Which of the Statements About Closing the Accounts Is NOT

question 19

Multiple Choice

Which of the statements about closing the accounts is NOT true?

• A) Revenue accounts are debited.
• B) A net profit is credited to the retained profits account.
• C) Expense accounts are reset at zero.
• D) Dividends received are credited.

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Definitions:

Guided Imagery

A technique used to aid memory of an event or person. For example, a child might be asked to pretend that an event occurred, then create a mental picture of the event and its details.

Eyewitness Testimony

is the account a bystander or victim provides in court, detailing the events they observed, which can be crucial evidence in legal proceedings.

Reality and Fantasy

The distinction between what is truly existent and observable in the physical world and what is imagined or created in the mind.

Utilization Deficiency

A situation in which using a memory strategy does not seem to boost memory.