Closing the Temporary Accounts at the End of Each Accounting

question 275

Multiple Choice

Closing the temporary accounts at the end of each accounting period does all of the following except:

• A)Serves to transfer the effects of these accounts to the retained earnings account on the balance sheet.
• B)Prepares the dividends account for use in the next period.
• C)Brings the revenue and expense accounts to zero balances.
• D)Has no effect on the retained earnings account.
• E)Causes retained earnings to reflect increases from revenues and decreases from expenses and dividends.

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Definitions:

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity.

Individual Differences

Variations among individuals in their psychological traits, behaviors, or physical attributes.

Pernicious Effects

Harmful effects that are often subtle or gradual but have significant negative consequences over time.

Female Negotiators

Female negotiators are women who engage in negotiation processes, potentially bringing unique perspectives, strategies, or challenges based on gender dynamics in negotiation contexts.