Which of the Following Isn't a Correct Closing Entry?
A) $\quad$

question 47

Multiple Choice

Which of the following isn't a correct closing entry?

• A) Retained earnings
• Revenues
• \( \quad \)\( \quad \)Expenses
• B) Revenues
• Gain on sale of land
• \( \quad \)\( \quad \)Expenses
• \( \quad \)\( \quad \)Retained earnings
• C) Revenues
• \( \quad \)\( \quad \)Loss on sale of Building
• \( \quad \)\( \quad \)\( \quad \)\( \quad \)Expenses
• \( \quad \)\( \quad \)\( \quad \)\( \quad \)Retained earnings
• D) Loss on sale of land
• Expenses
• \( \quad \)\( \quad \)Revenues
• \( \quad \)\( \quad \)Retained earnings

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Definitions:

Formal Operational Thought

A stage of cognitive development, as described by Jean Piaget, where individuals (generally adolescents and adults) are able to think abstractly, logically, and systematically.

Domain Specific Knowledge

pertains to information and understanding that is applicable to a particular domain or area of expertise.

Cognitive Development

The growth and change in intellectual capabilities such as thinking, reasoning, and problem-solving, occurring throughout a person’s lifespan.

Memory Improvement

Techniques or strategies aimed at enhancing an individual's ability to remember information.