Category: Accounting MCQs
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Which of the following is true regarding closing entries?

A: They must be followed by reversing entries

B: They transfer the balances in all of the Nominal Accounts to the Trading and Profit and Loss Account

C: They must be made after the reversing entries but before the adjusting entries

D: They must be made after the adjusting entries but before the reversing entries

Check Correct Option

They must be made after the adjusting entries but before the reversing entries

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Accounting MCQs

Accounting MCQs Test Preparation | Latest 2021 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.