Depreciation O Goodwill Reduction Question 14 6 pts Which ONE of the following regarding closing entries is true? O Closing entries are required for all real and nominal accounts. O Closing entries are required to update capital contributions for the current period O Closing entries are required to bring all income statement accounts to a zero balance prior to starting a new accounting period. O Closing entries close all contra accounts. 6 pts Question 15 Hide Ilon.examity.com is sharing your screen Stop sharing