What account are the net revenues and expenses transferred to at the end of the accounting cycle?
A) Comprehensive Income
B) Retained Earnings
C) Accumulated Other Comprehensive Income
D) Share Capital

Question

Quizplus · Accepted Answer

Net revenues and expenses are transferred to the Retained Earnings account at the end of the accounting cycle. This account represents the cumulative amount of earnings that have been retained in the company over time.

What Account Are the Net Revenues and Expenses Transferred to at the End