The Correct Order for Closing Accounts Is

question 117

Multiple Choice

The correct order for closing accounts is:

• A) revenue, expenses, income summary, withdrawals.
• B) revenue, income summary, expenses, withdrawals.
• C) revenue, expenses, capital, withdrawals.
• D) revenue, capital, expenses, withdrawals.

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Definitions:

Vision

The ability to see; the sense that allows organisms to detect light and perceive the colors, shapes, and depths of their surroundings.

Sensation

Sensation is the process by which sensory receptors and the nervous system receive and interpret stimuli from the environment, such as light, sound, and touch.

Perception

Perception is the process by which organisms interpret and organize sensory information to produce a meaningful experience of the world.

Interpretation

The act of explaining the meaning of something; in the context of data, it involves determining the significance or implications of the information presented.