Which of the following does NOT occur during the closing process?

Question

Quizplus · Accepted Answer

Journal entries are not made to return the balance in all real accounts to zero during the closing process. Real accounts, such as assets and liabilities, are not closed at the end of the accounting period but carry over to the next period. Only nominal accounts, such as revenues, expenses, and dividends, are closed to prepare for the next period's accounting transactions.

Which of the Following Does NOT Occur During the Closing