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Question 1.45 The ending balance in the owner's capital account is determined by: 0 owner's contributions, withdrawals, and net income. owners contributions and withdrawals O net income and owners contributions O net income Question 1.46 Assets are listed: O according to importance. O in alphabetical order O in order of current assets and then property, plant & equipment O highest to lowest according to dollar amount Question 1.47 The purpose of the closing process is to: O update the income summary account O adjust permanent accounts to zero O close all accounts for the next period O close temporary accounts to prepare for the next accounting period