Closing the accounts consists of journalizing and posting entries, which will zero out all temporary accounts.

Name: Closing the accounts consists of journalizing and posting entries, which will zero out all temporary accounts.
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Closing the accounts involves making entries that transfer the balances of all temporary accounts (like revenues, expenses, and dividends) to permanent accounts (like Retained Earnings), effectively zeroing out the temporary accounts for the start of the next accounting period.

Closing the Accounts Consists of Journalizing and Posting Entries, Which