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.

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Definitions:

Somatic Symptom

Physical symptoms that are experienced and distressing to an individual but cannot be fully explained by a medical condition, often associated with emotional distress.

Posttraumatic Stress

A psychological condition resulting from exposure to traumatic events, characterized by persistent distressing memories, heightened stress responses, and avoidance of trauma-related stimuli.

Emotional Well-Being

A state of mental health where an individual is able to understand and manage their emotions effectively, leading to positive self-esteem and relationships.

Illness Anxiety

A condition, previously known as hypochondriasis, where an individual excessively worries about having a serious illness despite medical reassurance.