If Income Summary Has a Credit Balance After Revenues and Expenses

question 159

Multiple Choice

If Income Summary has a credit balance after revenues and expenses have been closed into it the closing entry for Income Summary will include a

• A) debit to the owner's capital account.
• B) debit to the owner's drawings account.
• C) credit to the owner's capital account.
• D) credit to the owner's drawings account.

Comprehend the advantages of delivering reports or proposals in person.

Identify and implement strategies to enhance the readability and visual appeal of reports.

Recognize the structure and essential elements of effective executive summaries.

Understand the strategic placement of the call to action in proposals using the indirect approach.

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