Question: Multiple Select Question Select all that apply Explain your understanding of the closing process by choosing the correct statements below. ( Check all that apply.

Multiple Select Question
Select all that apply
Explain your understanding of the closing process by choosing the correct statements below. (Check all that
apply.)
the closing process is a helpful step in preparing financial statements.
the closing process resets the balances in temporary accounts to zero.
the closing process helps summarize a period's revenues and expenses.
the closing process helps to determine a company's liquidity.
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