Which of the Following Statements Are True Regarding the Closing

question 21

Multiple Choice

Which of the following statements are true regarding the closing process of a merchandiser?

• A)Sales Discounts,Sales Returns and Allowances and Cost of Goods sold should all be credited during closing
• B)Sales Discounts,Sales Returns and Allowances and Cost of Goods sold should all be debited during closing
• C)Sales Discounts and Sales Returns and Allowances should be debited; Cost of Goods Sold should be credited during closing
• D)Sales Discounts and Sales Returns and Allowances should be credited; Cost of Goods Sold should be debited during closing
• E)Sales Discounts and Sales Returns and Allowances are not closed.Cost of Goods Sold should be credited

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Definitions:

Split Cells

A feature in spreadsheet and table management software that divides a cell into multiple cells, either horizontally or vertically.

Merge Cells

The process of combining two or more adjacent cells in a spreadsheet or table into a single cell, often for formatting or to make headings clearer.

Text Direction

An option in word processing and graphic design software that allows for the orientation of text to be adjusted vertically or horizontally.

Distribute Rows

A process in spreadsheet applications that equally spaces out the rows within a selected range to ensure uniformity.