MSmuts Showed a Net Income of $5,000

question 73

Multiple Choice

M.Smuts showed a net income of $5,000.The entry to close the Income Summary account would include a:

• A)debit to M.Smuts Capital,$5,000.
• B)credit to M.Smuts Capital,$5,000.
• C)debit to Income Summary,$5,000.
• D)Both B and C are correct.

---

Definitions:

Perceived Risk

The level of risk that consumers believe is associated with purchasing or using a product or service, which can influence their buying behavior.

Behavioral Learning

The process of acquiring new behaviors and knowledge through conditioning and observation.

Cognitive Learning

The process of acquiring knowledge and understanding through thought, experience, and the senses.

Brand Loyalty

A favorable attitude toward and consistent purchase of a single brand over time.