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Which of the following describes the closing process? Multiple Choice Record external events for the period so that financial statements can be prepared. Transfer the
Which of the following describes the closing process?
Multiple Choice
Record external events for the period so that financial statements can be prepared.
Transfer the balances of temporary accounts revenues expenses, and dividends to retained earnings.
Store all source documents used to record transactions throughout the period.
Record activities that have occurred but that have not been recorded by the end of the accounting period.
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