Net Income of a Corporation Should Be Closed to Retained

question 156

True/False

Net income of a corporation should be closed to retained earnings and net losses should be closed to the share premium account.

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Definitions:

Behavior Genetics

A discipline focused on analyzing how genetics and environmental factors impact behaviors.

Genetic Influences

Factors determined by genes inherited from parents that affect various aspects of an individual’s physical traits, behaviors, and susceptibility to certain diseases.

Environmental Influences

The impact of surrounding conditions, including social, physical, and cultural settings, on an individual's behavior, attitudes, and development.

Natural Selection

A process in biology by which organisms with traits well-suited to their environment have higher survival rates and reproduction, shaping evolution.