Which of the following statements is true?

a)Closing the revenue account increases total stockholders equity.

b)Closing expense accounts increase total stockholders equity.

c)Closing the dividend account increases total stockholders equity.

d)None of the statements is true.

Which of the following statements is true?

a)Closing the revenue account increases retained earnings.

b)Closing expense accounts decrease retained earnings.

c)Closing the dividend account decreases retained earnings.

d)All of the statements are true.

The journal entry to close the revenue account would include which of the following?

a)a debit to both the revenue and the retained earnings account.

b)a credit to both the revenue and the retained earnings account.

c)a debit to the revenue account and a credit to the retained earnings account.

d)a credit to the revenue account and a debit to the retained earnings account.

Which of the following journal entries would be required to close a salaries expense account?

a)

Salaries Expense	XXX
Retained Earnings		XXX

b)

Retained Earnings	XXX
Salaries Expense		XXX

c)

Salaries Expense	XXX
Cash		XXX

d)

Salaries Payable	XXX
Retained Earnings		XXX