Question Details

The Dividends account is a permanent account



	1.	Closing the Dividends  account to Retained Earnings is not necessary if net income is greater than dividends paid  during the period.



	2.	The Dividends account is a permanent account whose balance is carried forward to the next accounting period.


	3.	Closing entries are journalized after adjusting entries have been journalized.


	4.	The amounts appearing on an income statement should agree with the amounts appearing on the post-closing trial balance.


	5.	The post-closing trial balance is entered in the first two columns of a worksheet.




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