An Error Has Occurred in the Closing Process If

question 2

Multiple Choice

An error has occurred in the closing process if

• A) revenue and expense accounts have zero balances.
• B) the owner's capital account is credited for the amount of net income.
• C) the owner's drawings account is closed to the owner's capital account.
• D) the balance sheet accounts have zero balances.

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Definitions:

Principles of Graphic Design

Fundamental guidelines for creating visual compositions using elements like typography, imagery, and color to convey messages effectively.

Textual Messages

Messages conveyed through written text, as opposed to verbal or visual communication.

Formal Balance

A principle of design where elements are arranged symmetrically or asymmetrically to create a sense of equal visual weight.

Informal Balance

A casual or relaxed equilibrium in various aspects of life or work, not strictly adhering to formal rules or structures.