The Correct Order for Closing Accounts Is

question 117

Multiple Choice

The correct order for closing accounts is:

• A) revenue, expenses, income summary, withdrawals.
• B) revenue, income summary, expenses, withdrawals.
• C) revenue, expenses, capital, withdrawals.
• D) revenue, capital, expenses, withdrawals.

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Definitions:

Dominance

The state or position of being in control or exerting power over others, often seen in social or organizational hierarchies.

Universal Set

In mathematics, the set of all possible objects of a particular type; the theoretical universe against which subsets are defined.

Leadership Traits

Characteristics or qualities associated with effective leaders, such as integrity, confidence, communication skills, and the ability to inspire others.

Northouse's Leadership Traits

Specific characteristics identified by Peter Northouse that contribute to effective leadership, including intelligence, determination, integrity, and sociability.