Which Type of Account Is Always Debited During the Closing

question 61

Multiple Choice

Which type of account is always debited during the closing process?

• A) dividends
• B) expense
• C) revenue
• D) retained earnings

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Definitions:

Stereotypes

Widely held but fixed and oversimplified images or ideas of a particular type of person or thing.

Energy-Saving Devices

Tools or appliances designed to use less energy for their operation, thereby conserving energy and reducing utility costs.

Efficient Decisions

The process of making choices that achieve the maximum benefit or effectiveness with the least waste of time, resources, or effort.

Validity Effect

A phenomenon where a statement is more likely to be perceived as true the more it is repeated, regardless of its actual veracity.