The Closing Process Includes the Following Journal Entries

question 48

Multiple Choice

The closing process includes the following journal entries:

• A)Dr.Revenues,Cr.R/E.
• B)Dr.R/E,Cr.Expenses.
• C)Dr.R/E,Cr.Dividends Declared.
• D)all of the above
• E)none of the above

---

Definitions:

Watchdogs and Activist Groups

Organizations or individuals that monitor and seek to influence the activities of bodies or companies, often to ensure ethical, social, or political standards are met.

Corporate Practices

The policies, procedures, and actions adopted by companies in the conduct of their business operations.

Deepwater Horizon

Refers to an offshore drilling rig that experienced a catastrophic blowout in April 2010, leading to one of the largest environmental disasters in U.S. history.

Antiretroviral Drugs

Medications used to manage HIV infection, preventing the virus from multiplying and reducing the amount of virus in the body.