In Almost All States in the United States, a License

question 68

True/False

In almost all states in the United States, a license to practice clinical psychology requires a doctorate.

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Definitions:

Credit Balance

The amount that a company or individual owes to creditors; in accounting, it indicates a balance on the right side of a ledger for liability, revenue, or equity accounts.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary to permanent accounts.

Statement of Income

A financial report summarizing the revenues, expenses, and profits/losses of a company over a specified period, also known as an income statement.