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Subject - Accounting:

Financial Statement Analysis

MCQ - 313-315

Question:

One purpose of closing entries is to give zero balances to which of the following accounts?

  1. Asset and liability accounts
  2. Liability and capital accounts
  3. Revenue and expense accounts
  4. Liability and capital accounts

Correct Answer: C

Explanation:

Not Required

Record Performance

355 MCQ for effective preparation of the test of Financial Statement Analysis of Accounting section.

Read the MCQ statement: One purpose of closing entries is to give zero balances to which of the following accounts? , keenly and apply the method you have learn through the video lessons for Financial Statement Analysis to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 313-315.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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