To Close Income Summary at the End of the Year

question 51

True/False

To close Income Summary at the end of the year, Retained Earnings is credited for the amount of net income.

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Definitions:

Pregnancy Discrimination

Unfair treatment of a woman in the workplace due to her pregnancy, childbirth, or related medical conditions.

Discriminated

Treated unfairly or unfavorably because of certain distinguishing characteristics.

Lewd

Offensive in a sexual way; showing or intended to excite sexual desire or interest that is considered inappropriate.

Sexually Offensive

Pertaining to actions, speech, or gestures that are inappropriate, harassing, or abusive in a sexual manner.