Which of the following statements is false regarding the closing process? Question 21 options: The Dividends account is closed to Income Summary.
Question
Which of the following statements is false regarding the closing process?
Question 21
options:
| The Dividends account is closed to Income Summary. |
| The closing of expense accounts results in a debit to Income Summary. |
| The closing of revenues results in a credit to Income Summary. |
| The Income Summary account is closed to the Retained Earnings account. |
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