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Which of the following is not true about closing entries? a . There are two closing entries that update the retained earnings account. b .
Which of the following is not true about closing entries?
a There are two closing entries that update the retained earnings account.
b All real accounts are closed at the end of the period.
c The closing entries are dated the last day of the accounting period.
d By closing nominal accounts at the end of the period to zero, it is possible to isolate next period's information correctly.
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