The closing process if necessary in order to
A. calculate net income or net loss for an accounting period
B. Ensure that all permanent accounts are closed to zero at the end of each accounting period
C. ensure that the company complies with state laws
D. ensure that income or net loss and dividends for the period are closed into the retained earnings account
Answer: D. ensure that income or net loss and dividends for the period are closed into the retained earnings account
Business
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