The purpose of closing entries is to transfer: Multiple Choice A. Cash...

50.1K

Verified Solution

Question

Accounting

The purpose of closing entries is to transfer:

Multiple Choice

A. Cash to the owners of the company

B. Assets and liabilities when operations are discontinued

C. Balances in temporary accounts to a permanent account

D. Inventory to customers

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students