Before the closing process is performed at the end of the accounting period, revenues and expenses should have which of the following? A) A balance of zero B) Balances of cumulative amounts of activity during the period C) A net balance (credits minus debits) equal to the capital account D) A net balance equal to assets minus liabilities E) None of the above Which of the following closing entries is usually recorded last? A) Closing the Income Summary account B) Closing the expense accounts C) Closing the withdrawals account D) Closing the revenue accounts E) Closing the Capital account Which of the following is listed on the post-closing trial balance for a sole proprietorship? A) Income Summary account B) Withdrawals account C) Revenue account D) Expense account E) Liability account