The Correct Order for Closing Accounts Is

question 117

Multiple Choice

The correct order for closing accounts is:

• A) revenue, expenses, income summary, withdrawals.
• B) revenue, income summary, expenses, withdrawals.
• C) revenue, expenses, capital, withdrawals.
• D) revenue, capital, expenses, withdrawals.

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Definitions:

Psychology

The scientific study of the mind and behavior, aiming to understand how individuals think, feel, and act both individually and within groups.

World War II

A global conflict that lasted from 1939 to 1945, involving many of the world's nations split into two opposing alliances: the Allies and the Axis.

Major Event

An occurrence or happening of significant importance, often having a lasting impact on people, communities, or societies.

Humanism

A philosophical and ethical stance that emphasizes human value, dignity, and concerns, often prioritizing human welfare and potential.