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Which of the following statements is false regarding the closing process? a. The Dividends account is closed to Income Summary. b. The closing of expense
Which of the following statements is false regarding the closing process?
a. The Dividends account is closed to Income Summary.
b. The closing of expense accounts results in a debit to Income Summary.
c. The closing of revenues results in a credit to Income Summary.
d. The Income Summary account is closed to the Retained Earnings account.
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