On Petro Company's Worksheet, the Revenue Account Had a Normal

question 66

Multiple Choice

On Petro Company's worksheet, the Revenue account had a normal balance of $3,200. The entry to close the account would include a:

• A) debit to Cash for $3,200.
• B) credit to Income Summary for $3,200.
• C) debit to Capital for $3,200.
• D) credit to Revenue for $3,200.

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Definitions:

Top-Down Change

A change initiative where decisions and initiatives are initiated by the top management and flow downwards through the hierarchy of an organization.

Bottom-Up Change

A change strategy where employees at all levels are involved in the process, often leading to more effective and sustainable organizational transformation.

Force-Coercion Strategy

A change management approach involving the use of power, threats, or sanctions to induce change within an organization.

Formal Authority

Power or right, based on one's position in an organization, to make decisions, command resources, or direct the work of others.