Which three statements describe the Year-End Close process?

A.
closes all adjustment periods

B.
closes selected adjustment periods

C.
requires that all P/L accounts be closed

D.
requires that only selected accounts be closed

E.
directly updates the ledger but provides for optional creation of journal entries for audit
trail

F.
creates journal entries for balancing transactions and posts them to the user-defined P/L
closing account with the net amount