In the year-end closing process, which account should not be reset to zero?
A) Dividends
B) Sales revenues
C) Land
D) Supplies expense

Question

Quizplus · Accepted Answer

Land is a long-term asset and its value is not affected by the year-end closing process. Therefore, it should not be reset to zero. Dividends, sales revenues, and supplies expense are all temporary accounts that should be reset to zero at the end of the accounting period.

In the Year-End Closing Process, Which Account Should Not Be