The Income Summary account is used to:
A. Determine the appropriate withdrawal amount.
B. Replace the capital account in some businesses.
C. Replace the income statement under certain circumstances.
D. Adjust and update asset and liability accounts.
E. Close the revenue and expense accounts.
Answer: E
You might also like to view...
When using the AIDA approach to persuasion, which of the following would be the best opening to your message?
A) How are you today? B) I know you've heard this all before, but ... C) Are you spending way too much on prescription drugs? D) This is an important message. E) What I am about to tell you might seem insignificant, but believe me, it's not.
______ is the most painful of all relationship endings.
Fill in the blank(s) with the appropriate word(s).
Immediate stakeholders are the various people and organizations that have an interest or stake in the outcome of the negotiations-includes business associations, labor unions, embassies, and industry associations, among others.
Answer the following statement true (T) or false (F)
Which type of organizational development intervention focuses on improving employee satisfaction in relationship to pay, compensation, job security, responsibilities, performance, work–life balance, health, and career opportunities?
A. sociotechnical system design B. task–technology C. quality of worklife D. people-focused