Under Which Circumstance Would One Less Closing Entry Than Usual

question 34

Multiple Choice

Under which circumstance would one less closing entry than usual be made?

• A) When the Retained Earnings account is zero prior to posting of closing entries
• B) When a net loss has been suffered
• C) When revenues have not yet been collected
• D) When net income is zero

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Definitions:

Positive

Defined by or showing positive, supportive, or hopeful characteristics.

Negative

Characterized by the absence, denial, or refusal of qualities, attributes, or aspects, often leading to adverse or undesirable outcomes.

Strain

Stress or pressure resulting from demanding circumstances, often leading to physical or emotional tension.

Well-Being

The state of being comfortable, healthy, or happy, encompassing physical, mental, and emotional health.