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which of the following is NOT true about closing entries? a. there are four closing...

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Accounting

which of the following is NOT true about closing entries? a. there are four closing entries that update the owner's equity account b. all real accounts are closed at the end of the period c. Buy closing nominal account at the end of the period to zero it is possible to isolate next periods information correctly d. after the second closing entry, the income summary account is equal to the net income or loss for the period

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