Which of the Following Is True About Closing the Books

question 107

Multiple Choice

Which of the following is true about closing the books of a corporation?

• A) Expenses are closed to the Expense Summary account.
• B) Revenues and expenses are closed to the Income Summary account.
• C) Only revenues are closed to the Income Summary account.
• D) Revenues, expenses, and the Dividends account are closed to the Income Summary account.

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Definitions:

Cognitive-Behavioral

Relating to a therapy approach that addresses dysfunctional emotions, maladaptive behaviors, and cognitive processes through a number of goal-oriented, explicit systematic procedures.

Evidence Based

Involving, utilizing, or derived from rigorous scientific evidence as part of making decisions in professional practice, especially within healthcare.

Psychotherapy Practices

The various methods and techniques employed by mental health professionals to treat psychological disorders and improve mental health.

Delphi Poll

A method of gathering data and achieving consensus among a group of experts through a series of questionnaires interspersed with feedback.