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Closing entries are necessary so that retained earnings will begin each period with a zero balance. True or False Time remaining: 2:14:57 7. Closing entries

image text in transcribed Closing entries are necessary so that retained earnings will begin each period with a zero balance. True or False

Time remaining: 2:14:57 7. Closing entries are necessary so that retained earnings will begin each period with a zero balance. O True O False

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