avigator 1 2 3 5 Question 6 Next A) 1, 2 Points: 2 mcq Which statement is correct out of the following: - 1. Closing balance of revenue and expenses accounts will always be zero. 2. Fair market value of all assets shall be taken in the balance sheet. 3. Balance sheet is final account, which is to be prepared only at the end of financial year. 4. Retained earnings always having balance at the end of year, which is to be carried over to balance sheet