Closing Entries Are Dated in the Journal as of

question 56

Multiple Choice

Closing entries are dated in the journal as of

• A) the date they are actually journalized, although they are generally prepared after the end of the accounting period
• B) the last day of the accounting period
• C) the first day of the accounting period, although they are actually journalized well after the beginning of the accounting period
• D) the first day of the subsequent accounting period

---

Definitions:

Obtaining

The act of acquiring or getting possession of something.

Standard Normal

A normal distribution with a mean of 0 and a standard deviation of 1, used as a basis in statistical analysis for converting scores from any normal distribution.

Random Variable

A variable whose values depend on outcomes of a random phenomenon.

Standard Normal

A Gaussian distribution defined by a zero mean and a one standard deviation.