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What crucial process occurs when the books are closed for the year? A Net income is transferred to Retained Earnings. B Retained earnings is set
What crucial process occurs when the books are closed for the year? A Net income is transferred to Retained Earnings. B Retained earnings is set to $0 to start the new year with a clean slate. C All balance sheet accounts are set to $0 to start the new year with a clean slate
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Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
28th Edition
1337902683, 978-1337902687
