The Normal Balance of Income Summary Is

question 34

Multiple Choice

The normal balance of Income Summary is:

• A) debit.
• B) credit.
• C) The account does not have a normal balance.
• D) It depends on the change of the inventory balance.

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Definitions:

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.

Exporting

The act of sending goods or services produced in one country to another country for the purpose of selling them there.

Sexual Harassment

Unwanted or inappropriate sexual advances or remarks, often in the workplace, that create a hostile or intimidating environment.

Employment Situation

The current status of the job market, including levels of employment, unemployment, and the types of jobs available.