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Which of the following statements most completely describes what happens when you close the accounting records of a proprietorship? Select one: a. Revenues, and owner's
Which of the following statements most completely describes what happens when you close the accounting records of a proprietorship? Select one: a. Revenues, and owner's drawing are closed to Income Summary. b. Revenues, expenses, and the owner's drawings account are closed to Income Summary. O O c. Revenues are closed to Income Summary. O d. Expenses are closed to owner's drawings. e. Revenues and expenses are closed to Income Summary. O
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