When Closing the Withdrawals Account

question 139

Multiple Choice

When closing the Withdrawals account

• A) The income summary account should be debited
• B) The income summary account should be credited
• C) The owners' capital account should be credited
• D) The owners' capital account should be debited
• E) Liability account should be credited

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Definitions:

Big Five Traits

A model that categorizes human personality into five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Anxious

Feeling anxious or apprehensive, typically regarding a forthcoming event or a situation with an unknown result.

Neuroticism

A personality trait characterized by a tendency to experience negative emotions such as anxiety, anger, or depression more frequently and intensely than others.

Openness to Experience

A personality trait typified by a willingness to try new things, creativity, curiosity, and an appreciation for art and beauty.