________ entries transfer net income or net loss and dividends to the Retained Earnings account.
A)Adjusting
B)Closing
C)General
D)Timely

Name: ________ entries transfer net income or net loss and dividends to the Retained Earnings account. A)Adjusting B)Closing C)General D)Timely
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Question

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Closing entries transfer net income or net loss and dividends to the Retained Earnings account at the end of an accounting period. This process is known as closing the books. Therefore, the best choice is B (Closing).

________ Entries Transfer Net Income or Net Loss and Dividends