The Income Statement for the Month of June, 2014 of Taylor

question 17

Multiple Choice

The income statement for the month of June, 2014 of Taylor Enterprises contains the following information: The entry to close Income Summary to Retained Earnings includes

• A) a debit to Revenue for ₤8,000.
• B) credits to Expenses totalling ₤4,100.
• C) a credit to Income Summary for ₤3,900
• D) a credit to Retained Earnings for ₤3,900.

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Definitions:

Nontraditional

Referring to approaches, methods, or ideas that deviate from established norms or standards.

Externalizing

Exhibiting behavior that projects one's inner conflicts or emotions onto the external world, often through aggressive or problematic actions.

Aggressive

Characterized by or resulting from a forceful, hostile, or assertive attitude or behavior.

Hostile

Showing or feeling opposition or dislike; unfriendly and antagonistic in behavior or attitude.