The closing process involves separate entries to close (1) expenses. (2) dividends. (3) revenues, and (4) net
Question:
The closing process involves separate entries to close (1)
expenses. (2) dividends. (3) revenues, and (4) net income
(or loss). The correct sequencing of the entries is:
a. (4),(3),(2),(1)
b. (1),(2),(3),(4)
c. (3),(2),(1),(4)
d. (3),(1),(4),(2)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
Question Posted: