The Closing Process Includes Which of the Following

question 75

Multiple Choice

The closing process includes which of the following?

• A)Closing the balance of the retained earnings account to zero.
• B)Closing the balance of only the dividends account to zero.
• C)Closing the balances of only revenue and expense accounts to zero.
• D)Closing the balances of revenue,expense and dividend accounts to zero.

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Definitions:

Sac Fungi

A division of fungi, also known as Ascomycota, characterized by the production of spores in special sacs called asci.

Zygote Fungi

Fungi that form a thick-walled zygospore during sexual reproduction.

Single Cells

Organisms or units of life that consist of only one cell, capable of performing all necessary life functions independently.

Yeast

A group of unicellular fungi that are important in the fermentation process and as model organisms in biological research.