Help me answer this question.

1. How many closing entries are there? Choose One 20 points O3 or 4 O Always 4 O Always 3 O Depends on how many expense accounts there are 2. What is the purpose of closing entries Choose One 20 points O To update Capital O To terminate the business O To reverse the assets and liabilities O To calculate the book value of each account 3. What is the proper sequence of the closing entries Choose One 20 points O Close revenue, drawing, income, summary, and expenses O Close revenue, expenses, income summary, and drawing O Close income summary, revenue, drawing, and expenses O The order is irrelevant 4. What are the temporary accounts Choose One 20 points O Debit ADE OLCR ORED OBLUE 5. The closing entries take place at the end of the period. Choose One : 20 points O True O False O O O