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C_TFIN52_67 · Question #14

At the end of a fiscal year the system carries forward the balance of certain accounts to a special retained earnings account and sets them to zero. Which accounts are treated in this way?

The correct answer is B. P&L accounts. See the full explanation below for the reasoning.

Question

At the end of a fiscal year the system carries forward the balance of certain accounts to a special retained earnings account and sets them to zero. Which accounts are treated in this way?

Options

  • ABalance sheet and P&L accounts
  • BP&L accounts
  • CAccounts managed only on the basis of open items
  • DBalance sheet accounts

How the community answered

(28 responses)
  • A
    7% (2)
  • B
    79% (22)
  • C
    4% (1)
  • D
    11% (3)

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