Which statements are true regarding the closing process? All expense and loss accounts, as...
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Which statements are true regarding the closing process? All expense and loss accounts, as well as assets, are credited for amounts equal to their yearend debit balances. All expense and loss accounts, as well as dividends, are credited for amounts equal to their yearend debit balances. All revenue and gain accounts are debited for amounts equal to their yearend credit balances. All revenue and gain accounts, as well as liabilities, are debited for amounts equal to their yearend credit balances. 
Which statements are true regarding the closing process?
All expense and loss accounts, as well as assets, are credited for amounts equal to their yearend debit balances.
All expense and loss accounts, as well as dividends, are credited for amounts equal to their yearend debit balances.
All revenue and gain accounts are debited for amounts equal to their yearend credit balances.
All revenue and gain accounts, as well as liabilities, are debited for amounts equal to their yearend credit balances.
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