1. In the first step of closing entries we have to close all ____ (1 Point) accounts. O Revenue Expenses O Withdrawls O Income Summary 2. Trademarks is considered a type of which class of assets? (1 Point) O Plant Assets O Tangible Assets O Intangible Assets O Current Assets 3. The third step in the closing process, which of the following accounts have to be closed. (1 Point) O Revenues Expenses Income Summary O Withdrawals _payable is listed under current liabilities. (1 Point) O Accounts Notes O Both A&B O None of the above 5. Organize the steps in the accounting cycle in the correct order. (4 Points) Close all accounts needed Prepare statements Prepare unadjusted trial balance Prepare post-closing trial balance Journalize Analyze transactions Post Prepare adjusted trial balance Adjust 6. The last step of the closing process is involved with _ (1 Point) O Revenues O Withdrawals O Expenses O Income Summary accounts. 7. In the second step of closing entries we have to close all _ (1 Point) O Revenues O Income Summary O Withdrawls Expenses