Adjusting Entries That Must Be Made After the Company Set

question 11

Multiple Choice

Adjusting entries that must be made after the company set up are _____.

• A)Close Uncategorized Income to Capital
• B)Close Uncategorized Expenses to Capital
• C)Close Net Income
• D)Both A and B

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Definitions:

Fraudulent Ads

Advertisements that deceive the audience, often promoting scams, phishing, or misleading information for financial gain.

Financial Technology

Innovative technology and software used to support or enable banking and financial services, also known as fintech.

P2P Activity

Refers to peer-to-peer activities, which involve direct interactions between users or devices over the internet for sharing files, data, or resources without using a central server.

Sales Taxes

Taxes imposed by governments on the sale of goods and services, typically calculated as a percentage of the selling price.