Which of the Following Is Not True About Closing Entries

question 22

Multiple Choice

Which of the following is not true about closing entries?

• A) There are four closing entries that update the retained earnings account.
• B) After the second closing entry, the income summary account is equal to the net income or (loss) for the period.
• C) All real accounts are closed at the end of the period.
• D) By closing nominal accounts at the end of the period to zero, it is possible to isolate next period's information correctly.

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Definitions:

Body Alignment

The optimal placement of body parts so that the bones and joints are in correct anatomical position, minimizing strain.

Positioning Supports

devices or equipment used to aid in the correct positioning of the body or body parts, especially for individuals who are bedridden or have mobility issues, to prevent complications.

Base Of Support

The area beneath an object or person that includes every point of contact that the object or person makes with the supporting surface, which helps in maintaining balance.

Dangle At Bedside

Refers to the practice of sitting a patient on the edge of the bed with legs hanging over the side, often as a precursor to standing.