Which of the following is not true about closing entries?

a.There are two closing entries that update the owner's equity account.

b.After the first closing entry, the owner's capital account has been increased (decreased) by the amount of net income (or loss) for the period.

c.All real accounts are closed at the end of the period.

d.By closing nominal accounts at the end of the period to zero, it is possible to isolate next period's information correctly.