Which of the following statements is true?
A)Closing the revenue account increases retained earnings.
B)Closing expense accounts decreases retained earnings.
C)Closing the dividend account decreases retained earnings.
D)All of the statements are true.

Question

Quizplus · Accepted Answer

Closing the revenue account increases retained earnings, closing expense accounts decreases retained earnings, and closing the dividend account decreases retained earnings.

Which of the Following Statements Is True