Which accounts are closed in the closing process?
A) All ledger accounts
B) All balance sheet accounts
C) All unadjusted accounts
D) All income and expense accounts

Question

Quizplus · Accepted Answer

Only income and expense accounts are closed during the closing process. Balance sheet accounts and ledger accounts are not closed, and unadjusted accounts may or may not be closed depending on whether they are income or expense accounts.

Which Accounts Are Closed in the Closing Process