The Entry to Close the Fees Earned Account Would Cause

question 93

Multiple Choice

The entry to close the Fees Earned account would cause:

• A)the Capital account balance to increase.
• B)the Capital account balance to decrease.
• C)the Fees Earned account to decrease.
• D)None of these is correct.

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience.

Subjectivism

The philosophical stance that knowledge and reality are subject to individual interpretation or perception.

Fallacy

An erroneous argument dependent upon an unsound or illogical contention.

Homer Simpson

A fictional character from the animated television series "The Simpsons," known for his humorous and often bumbling personality.