Question
Which one is correct about closing entries? Closing entries: a) are not needed if adjusting entries are prepared b) must be journalized and posted c)
Which one is correct about closing entries?
Closing entries:
a) are not needed if adjusting entries are prepared
b) must be journalized and posted
c) need not be posted if the financial statements are prepared from the work sheet
d) need not be journalized if adjusting entries are prepared
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
