Which of the following is not a characteristic of closing entries? O Satisfy "time period" assumption Prepares the accounts for the next period Performed at the end of the accounting cycle O First step in the accounting cycle Siihmit Yonha Which of the following options is considered a permanent account? O Accounts Receivable O Interest Expense O Supplies Expense O Interest Revenue How do you close the Dividends account? O Dr. Retained Earnings and Cr. Dividends O Dr. Expenses and Cr. Retained Earnings O Dr. Retained Earnings and Cr. Expenses O Dr. Dividends and Cr. Retained Earnings Which of the following options is the last closing entry performed? Close Dividends into Retained Earnings Close Income Summary into Retained Earnings Close Revenue into Income Summary Close Expenses into Income Summary Which of the following statements is true? The dividend account is a permanent account Thing O The Retained Earnings account is not closed O The ending balances in expense accounts are carried forward to the next period. O Revenue accounts are permanent accounts