Journal Entries Recorded at the End of Each Accounting Period

question 56

Multiple Choice

Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and withdrawals accounts for the upcoming period and to update the owner's capital account for the events of the period just finished are referred to as:

• A) Adjusting entries.
• B) Closing entries.
• C) Final entries.
• D) Work sheet entries.
• E) Updating entries.

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