In Preparing Closing Entries

question 148

Multiple Choice

In preparing closing entries

• A) each revenue account will be credited.
• B) each expense account will be credited.
• C) the retained earnings account will be debited if there is net income for the period.
• D) the dividends account will be debited.

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Definitions:

Obergefell v. Hodges

A landmark Supreme Court case that ruled state-level bans on same-sex marriage unconstitutional, effectively legalizing same-sex marriage across the United States.

United States v. Windsor

A landmark 2013 Supreme Court case that struck down Section 3 of the Defense of Marriage Act (DOMA), granting same-sex marriages federal recognition.

Immigration

The process of settling down permanently in a country other than one's own.

Health Care

The maintenance or improvement of health via the prevention, diagnosis, treatment, amelioration, or cure of disease, illness, injury, and other physical and mental impairments in people, delivered by health professionals and allied health fields.