When Closing the Income Summary Account When There Is a Net

question 60

Multiple Choice

When closing the Income Summary account when there is a net income:

• A)Capital would increase.
• B)Capital would decrease.
• C)Capital would remain the same.
• D)None of these is correct.

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Definitions:

Task Performance

The execution and accomplishment of specific work activities or responsibilities assigned to an individual or team.

Instrumentality

The quality of being useful or instrumental in achieving a goal or purpose.

Valence

In motivational theory, the value an individual places on the rewards of an outcome, which affects their motivation to work.

Performance

The act of carrying out an activity or fulfilling a task with a certain level of efficiency and effectiveness, often measured against pre-established standards.