How Is Income Summary Closed If the Company Had a Net

question 13

Multiple Choice

How is Income Summary closed if the company had a net income?

• A) Debit Capital; credit Income Summary
• B) Debit Income Summary; credit Capital
• C) Debit Capital; credit Withdrawals
• D) Debit Withdrawals; credit Capital

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Definitions:

Special Needs

A term referring to individuals who require additional or specialized services due to physical, mental, emotional, or health-related issues.

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Afterbirth

The third stage of birth, when the placenta, umbilical cord, and other membranes are detached and expelled.

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