The Account to Which the Drawing Account Is Closed Is

question 27

Multiple Choice

The account to which the drawing account is closed is called

• A) Revenue.
• B) Income Summary.
• C) Owner's Capital.
• D) Cash.

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Definitions:

Conventional Morality

A stage in moral development where individuals make decisions based on societal norms and laws.

Conventional Morality

A stage of moral development where individuals make judgments based on societal rules and norms concerning right and wrong.

Unconventional Morality

A system of ethics that differs from the customary or established norms in a society.

Pleasing Others

The behavioral tendency to act in ways that are intended to gain approval or avoid disapproval from others.