Closing Entries May Be Prepared from All but Which One

question 49

Multiple Choice

Closing entries may be prepared from all but which one of the following sources?

• A)Adjusted balances in the ledger
• B)Income statement and statement of financial position columns of the worksheet
• C)statement of financial position
• D)Income and retained earnings statements

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Definitions:

Tibial

Relating to the tibia, the larger and stronger of the two bones in the lower leg.

Common Fibular (Peroneal)

Referring to the nerve that wraps around the fibula bone and controls muscles on the anterior and lateral parts of the lower leg.

Axillary

Pertaining to the armpit area of the body.

Brachial

Pertaining to the arm, especially the upper arm, or an arm-like structure.