Closing entries are journalized and posted ________.
A) throughout the accounting period
B) before posting the adjusting entries
C) after preparing the post-closing trial balance
D) after preparing the financial statements

Question

Quizplus · Accepted Answer

Closing entries are made after the financial statements have been prepared to clear out balances in temporary accounts and transfer their balances to permanent accounts for the next accounting period.

Closing Entries Are Journalized and Posted ________