There Are Four Closing Entries

question 51

Multiple Choice

There are four closing entries. The first one is to close ____, the second one is to close ____, the third one is to close ____, and the last one is to close ____.

• A) revenues, expenses, income summary, dividends
• B) expenses, assets, income summary, capital stock
• C) retained earnings, dividends, income summary, assets
• D) dividends, income summary, expenses, revenues

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Definitions:

Phobic Fear

An intense, irrational fear of specific objects, situations, or activities, leading to avoidance behavior and distress.

Spiders

Arachnids characterized by eight legs, a body divided into two parts (the cephalothorax and abdomen), and the ability to spin webs.

Mental Disorder

A wide range of conditions affecting mood, thinking, and behavior, characterized by persistent dysfunction.

Mexican-Americans

Individuals of Mexican heritage residing in the United States, contributing to the cultural and social fabric of the country.