Which of the Following Statements Is Not Correct

question 48

Multiple Choice

Which of the following statements is not correct?

• A)In the closing process, the balance of the Purchases account is transferred to the Merchandise Inventory account.
• B)Closing the Revenue accounts is the first step in the closing process.
• C)In the closing process, the balance of the owner's drawing account is transferred to the debit side of the owner's capital account.
• D)The worksheet is the source of data for the general journal entries required to close the temporary accounts.

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The design, development, and application of devices, software, and systems that process data and perform tasks.

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A national or international research campaign dedicated to space exploration, technological development, and discovering more about the universe beyond Earth.

1960s

A decade marked by significant cultural, political, and social changes worldwide, including the civil rights movement, the Vietnam War, and the counterculture revolution.