Question: The closing process involves: Multiple Choice Recording year-end adjusting entries. Transferring revenue and expense balances to retained earnings. Closing out the permanent account balances. All

The closing process involves:

Multiple Choice

  • Recording year-end adjusting entries.

  • Transferring revenue and expense balances to retained earnings.

  • Closing out the permanent account balances.

  • All of these answer choices are incorrect.

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