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Question 7 6 p Whic ONE of the following regarding closing entries is true? Closing entries are required to bring all balance sheet accounts to

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Question 7 6 p Whic ONE of the following regarding closing entries is true? Closing entries are required to bring all balance sheet accounts to a zero balance prior to starting a new accounting period. Closing entries close all contra accounts. Closing entries are required for all real accounts. Closing entries are required to update retained earnings for the current period's net income or loss, less dividends. Question 8

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