Closing the Temporary Accounts at the End of Each Accounting

question 275

Multiple Choice

Closing the temporary accounts at the end of each accounting period does all of the following except:

• A)Serves to transfer the effects of these accounts to the retained earnings account on the balance sheet.
• B)Prepares the dividends account for use in the next period.
• C)Brings the revenue and expense accounts to zero balances.
• D)Has no effect on the retained earnings account.
• E)Causes retained earnings to reflect increases from revenues and decreases from expenses and dividends.

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Definitions:

Therapeutic Nurse-family Boundaries

Guidelines and limits that govern the appropriate professional interactions between nurses and their patients' families to maintain a professional and therapeutic relationship.

Expensive Gifts

High-cost items given as presents, often to show appreciation, love, or to celebrate a special occasion.

Therapeutic Relationship

A professional, collaborative, and confidential relationship between a healthcare provider and a patient, aimed at improving the patient's health and well-being.

Religious Preferences

An individual's choice or inclination towards certain beliefs, practices, and rituals associated with a particular religion.