Which of the following statements cre true lyou may select more than onej? a. The closing process is done when a firm either completes its operotions and is ready to distribute all value to shareholders or when it goes into baniruptcy. It is colled "closing" as you do it when the firm is being shut down. -b. Profitability of the company refers to it's abity to pay it's current obligations. c. Net income or Net Loss has indirect affect on the equity of the company. d. Income statement accounts are called Temporary accounts since they copture the activity for a given period and then are reset to zero. e. Bolance sheet accounts are permanent accounts since they reflect the current standing based on the entire history of what has occured in the occount. You paid dividends of $19.000. What journal entry best captures that transaction? : Retained Earnings 19,000 Cash 19.000 b. Cash 19.000 Retained Earnings 19.000 C. Owners' Expense 19.000 Cash 19.000 Dividends or Dividends Payable Cash 19.000 19.000 You purchased a truck at the beginning of the year for $40,000. You plan to use it for deliveries for the next 10 years and then think it will be scrapped with $0 salvoge value. You have not adjusted the account since setting it up. At the end of the year you should post the following adjusting entry: : a. Property, Plant and Equipment $4.000 Deoreciation Experse $4.000 b. Depreciotion Expense 4.000 Property, Plant and Equipment 4,000 C. No need for an entry. it all would have been expensed when you paid the cash for the truck to begin with. d. Depreciation Expense 4.000 Accumulated Depreciation: Property. Plant and Equipment 4,000