How Is Income Summary Closed If the Company Had a Net

question 13

Multiple Choice

How is Income Summary closed if the company had a net income?

• A) Debit Capital; credit Income Summary
• B) Debit Income Summary; credit Capital
• C) Debit Capital; credit Withdrawals
• D) Debit Withdrawals; credit Capital

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Definitions:

Marketing Skills

The abilities and knowledge necessary to promote and sell products or services, including strategy development, communication, and understanding consumer behavior.

Job Interviews

The process where employers evaluate potential employees by asking questions to assess their suitability for a position.

Application Process

The series of steps required to apply for something, such as a job, school admission, or a license, often involving the submission of documents and undergoing evaluations.

Job Interview

A meeting between a job applicant and a potential employer to assess the suitability of the applicant for a position.