The Balance in an Expense Account Is Closed to A(n)

question 103

Multiple Choice

The balance in an expense account is closed to a(n)

• A) capital account.
• B) revenue account.
• C) drawing account.
• D) income summary account.

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Definitions:

Social Compensation

The tendency of individuals in a group to work harder to compensate for the perceived lower performance levels of their peers.

Strong Synergy

A situation where combined actions or operations of entities create an outcome greater than the sum of their separate effects.

Social Facilitation

The enhancement of performance observed when an individual performs in the presence of others, compared to when alone.

Köhler Effect

A phenomenon observed in groups where less capable members perform better when working collectively than they would on their own, inspired by the work of Gestalt psychologist Wolfgang Köhler.