The Entry to Close the Revenue Accounts Includes

question 149

Multiple Choice

The entry to close the revenue accounts includes:

• A)a debit to Retained Earnings and credits to the respective revenue accounts.
• B)a debit to Dividends and credits to the respective revenue accounts.
• C)debits to the respective revenue accounts and a credit to Retained Earnings.
• D)debits to the respective revenue accounts and a credit to Dividends.

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Definitions:

Nonsampling Error

Errors not related to the act of selecting a sample from the population but can occur during data collection, recording, or analysis stages.

Measurement Error

Nonsampling error that results from the incorrect measurement of the population characteristic of interest.

Big Data

Refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Veracity

The reliability of the data generated.