Status Indicators Are Provided on Each Output of an Output

question 91

Multiple Choice

Status indicators are provided on each output of an output module to indicate that the

• A)load has been operated.
• B)input associated with the output is active.
• C)module fuse has blown.
• D)output is active.

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Definitions:

Closing Entry

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

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period, transferring the net income or loss to the owner's equity.

Revenue

The aggregate financial gain acquired by a company from its essential sales activities involving goods or services.

Credit Normal Balance

The usual balance side for credit accounts, typically seen in liabilities, equity, and revenue accounts.