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

Differentiate between the two basic forms of consequentialist theory.

Acknowledge Mill's approach to ethical questions through empirical investigation.

Understand the ethical significance of assessing the effects of actions in determining their moral worth.

Associate Bentham and Mill's utilitarian ethics with the valuation of pleasure and its role in ethical decision-making.

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Definitions:

Sense of Competence

The feeling or belief in one's own ability to accomplish tasks and handle situations effectively, contributing to self-confidence and well-being.

Flexible Working Hours

An employment structure that allows employees to choose their working hours within agreed limits, promoting work-life balance and often increasing job satisfaction.

Empty Nest

A phase in a parent's life where their children have grown up and left home, often leading to changes in the parents' lifestyle and emotional state.

Romantic Couples

Pairs of individuals who engage in a romantic relationship characterized by emotional and often physical intimacy.