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Which of the following is NOT a result of the closing process? A The income statement can be prepared to report on an entitys performance
Which of the following is NOT a result of the closing process?
A The income statement can be prepared to report on an entitys performance during a specified period.
B The entitys net income or loss is transferred to equity.
C All income statement accounts will begin each accounting period at zero.
D Regular transactions are not affected by accruals.
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