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C_TB1300_07 · Question #21
C_TB1300_07 Question #21: Real Exam Question with Answer & Explanation
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Question
What happens when you run the Period-End Closing utility?
Options
- AThe system posts a journal entry that posts a debit or credit to each Profit and Loss account
- BThe system immediately transfers Profit and Loss account balances to a retained earnings
- CThe system clears out the Profit and Loss account balances in two stages: first to a
- DAfter you have run the utility, you cannot post any further journal entries to the period.
- EAfter you have run the utility, you can post further journal entries to the period but you must
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