At the end of each accounting period,the dollar amounts in all the revenue and expense accounts are moved into an account called _____.
A)net earnings
B)net expense
C)interest expense
D)retained expense
E)retained earnings

Question

Quizplus · Accepted Answer

At the end of each accounting period, the dollar amounts in all the revenue and expense accounts are moved into the Retained Earnings account. This process is part of closing the books and helps to update the Retained Earnings balance to reflect the company's profit or loss for the period.

At the End of Each Accounting Period,the Dollar Amounts in All