the closing process involves separate entries to close 1 expenses 2..., Accounting Cycle, Accounting

Test
Index

Question:The closing process involves separate entries to close (1) expenses, (2) revenues, and (4) income summary. 
The correct sequencing of the entries is:

A (4), (3), (2), (1) 
B (1), (2), (3), (4) 
C (3), (1), (4), (2) 
D (3), (2), (1), (4)

/11

+ AnswerC

+ Report

Descriptive on Accounting Cycle Ebook

Total Preview: 1857

Question:The closing process involves separate entries to close (1) expenses, (2) revenues, and (4) income summary. The correct sequencing of the entries is:

A (4), (3), (2), (1)

B (1), (2), (3), (4)

C (3), (1), (4), (2)

D (3), (2), (1), (4)

C