Saturday, October 10, 2020

The closing entry for expenses includes:

The closing entry for expenses includes:


A) A debit to Dividends and a credit to all expense accounts.

B) A debit to Retained Earnings and a credit to all expense accounts.

C) A debit to Revenues and a credit to Retained Earnings.

D) A debit to Revenues and a credit to all expense accounts.


Answer: B


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