The First Step in the Closing Process Is To

question 32

Multiple Choice

The first step in the closing process is to:

• A) close all balances on the income statement debit column of the worksheet except Income Summary.
• B) transfer the balance from the Income Summary Account to the Capital Account.
• C) close all balances on the income statement credit column of the worksheet except Income Summary.
• D) transfer the balance of the Owner's Withdrawals Account to Capital.

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Definitions:

Client-centered Therapy

A psychotherapeutic approach developed by Carl Rogers emphasizing an empathetic, accepting environment that fosters self-awareness and personal growth.

Systematic Desensitization

A technique in behavioral therapy aimed at diminishing fears and anxiety by slowly exposing individuals to the object or situation they fear, while simultaneously teaching them relaxation techniques.

Client-centered Therapy

A counseling approach where the therapist provides a supportive environment to allow the client to lead the process of therapy.

Carl Rogers

An influential American psychologist who founded the client-centered therapy approach, emphasizing the importance of an individual's self-view and the need for unconditional positive regard.