Which of the Following Describes the Correct Sequence of Year-End

question 33

Multiple Choice

Which of the following describes the correct sequence of year-end closing entries?

• A)Close Revenues to Income summary;close Expenses to Income summary;close Income summary to Retained earnings.
• B)Close Expenses to Income summary;close Revenues to Income summary;close Income summary to Retained earnings.
• C)Close Revenues to Retained earnings;close Expenses to Retained earnings;close Income summary to Retained earnings.
• D)Close Revenues to Income summary;close Income summary to Retained earnings;close Expenses to Retained earnings.

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Definitions:

Communication Content

The information, messages, and meanings that are exchanged in communication processes.

Metaphor Analysis

An analytical technique in qualitative research focused on understanding how metaphors shape perceptions, concepts, and actions.

Organizational Power Structures

The arrangement of authority and relationships within an organization that determines how power and decision-making are exercised and distributed.

Critical Perspective

An analytical approach that questions assumptions, power structures, and societal norms in order to uncover underlying biases or injustices.