The Most Efficient Way to Accomplish Closing Entries Is to

question 139

Multiple Choice

The most efficient way to accomplish closing entries is to

• A)credit the income summary account for each revenue account balance.
• B)debit the income summary account for each expense account balance.
• C)credit the dividends balance directly to the income summary account.
• D)credit the income summary account for total revenues and debit the income summary account for total expenses.

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Definitions:

Voir Dire

The process of questioning potential jurors to ensure that the jury will be made up of unbiased individuals.

Jury

A group of citizens convened to render an impartial verdict (a finding of fact on a question) officially submitted to them by a court.

State Court

State courts are judicial bodies within the individual states of the United States that deal with matters under state laws and jurisdiction.

Confidential Nature

Pertaining to information or data that is intended to be kept secret or private, often due to its sensitivity or value.