Which of the following statements is incorrect about closing entries? A After the closing entries are made, only the temporary or nominal accounts remain such as assets, liabilities, and capital. B Only the temporary accounts or nominal accounts such as income, expenses, income summary, and drawings are being closed. C) The temporary accounts with debit balance are credited and the temporary account with credit balance are debited. D The reason for closing the accounts is that the income is good for a certain period and that is to be closed to the capital account to be carried forward to the next accounting period