When a Company Prepares Closing Entries,which One of the Following

question 139

Multiple Choice

When a company prepares closing entries,which one of the following is NOT a correct closing entry?

• A)Debit Retained Earnings; credit Salaries Expense.
• B)Debit Dividends; credit Retained Earnings.
• C)Debit Service Revenue; credit Retained earnings.
• D)All of the above are correct.

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Definitions:

Accommodation

In cognitive development, the process by which existing mental structures and behaviors are modified to adapt to new experiences.

Imprinting

The process by which certain animals form attachments during a critical period very early in life.

Assimilation

In cognitive development, Jean Piaget's concept where individuals integrate new information into existing cognitive schemas or frameworks.

Existing Schemas

Mental structures or frameworks that organize and interpret information, influencing cognition and perception.