Which of the following statements regarding closing journal entries is correct?

a. closing entries transfer net income (or loss) to the retained earnings account.
b. the balance of the dividends declared account is transferred to the retained earnings account when closing entries are recorded
c. all income statement accounts and the dividends declared account are reset to zero in the closing entry process
d. all of the above are correct statements

There are more than two types of bachelors’ degrees true or false?

1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%

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