When Closing Income Statement Accounts Having Debit Balances, Which of the Following

question 63

Multiple Choice

When closing income statement accounts having debit balances, which of the following accounts will also be closed?

• A) Purchases Returns and Allowances
• B) Merchandise Inventory
• C) Sales Returns and Allowances
• D) Revenue

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Definitions:

Job Enrichment

Enhancing a job's design by adding duties and responsibilities that increase the employee's satisfaction and motivation, often by incorporating more meaningful tasks.

Intrinsic Reward

Refers to the psychological satisfaction or personal fulfillment derived from achieving or completing a task, rather than from external rewards.

Work Ethic

The principle that hard work is intrinsically virtuous or worthy of reward.

Job Enrichment

A method of motivating employees by providing them with more variety, autonomy, and responsibility in their roles.