Warnings appear when half the time 5 minutes 1 minute and 30

Warnings appear when half the time. 5 minutes. 1 minute and 30 seconds Peman Multiple Attempts Not allowed. This test can only be taken once Force Completion This test can be saved and resumed at any point until time has expired. The timer will continue to runif you leave the test Remaining Time: 1 hour, 16 minutes, 24 seconds Question Completion Status: 12 13 14 15 16 17 18 19 20 21 22 23 24 25 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 9 10 Question 25 of SOS Moving to another question will save this response. Question 25 2 points Save Answer Closing entries o A are required to prepare a trial balance before adjusting journal entries can be made. B. are necessary to insure that balance sheet accounts are measured at fair value as of the balance sheet date o C close the equity accounts after a new stock issuance to insure that all additional funds are accounted for (ie. there is no equity \"eakage O D.ensure that all revenue and expense accounts will begin the next fiscal year with a zero balance Moving to another question will save this response. Question 2s of so

Solution

Answer: To ensure that all revenue and expenses accounts will begin the next fiscal year with a zero balance.

Explanation:

Revenue and expense accounts are temporary accounts. They are not carried over to the next year. They are closed to the income summary, and the net balance in the income summary is closed to the retained earnings.