The Entries That Transfer the Revenue,expense,and Owner,Withdrawals Balances to the Owner,Capital

question 60

Multiple Choice

The entries that transfer the revenue,expense,and Owner,Withdrawals balances to the Owner,Capital account to prepare the company's books for the next period are called ________ entries.

• A) closing
• B) opening
• C) adjusting
• D) end of period

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Definitions:

Open-ended

Describes questions or formats that do not have a predefined range of answers, allowing for unrestricted responses.

Objective

Based on facts, independent of personal feelings or biases.

Respondent

An individual who answers questions or provides data as part of a survey or study.

Secondary Data

Information that has been previously collected and analyzed by others, utilized in research for purposes different from those for which the data were initially gathered.