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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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