Which of the Following Describes the Correct Sequence of Year-

question 102

Multiple Choice

Which of the following describes the correct sequence of year- end closing entries?

• A)Close Revenues to Income summary; close Income summary to Retained earnings; close Expenses to Retained earnings.
• B)Close Revenues to Retained earnings; close Expenses to Retained earnings; close Income summary to Retained earnings.
• C)Close Expenses to Income summary; close Revenues to Income summary; close Income summary to Retained earnings.
• D)Close Revenues to Income summary; close Expenses to Income summary; close Income summary to Retained earnings.

---

Definitions:

Gray Matter

The darker tissue of the brain and spinal cord, consisting mainly of nerve cell bodies and branching dendrites.

Frontal Lobes

Regions of the brain located at the front of each cerebral hemisphere, responsible for decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Myelination

The process of forming a myelin sheath around the nerves, improving the speed and efficiency of electrical impulses.

Recommendations

Advice or suggestions offered with regard to prudent future action, often given formally after careful consideration.