The Entry to Close Sales Discounts Will Include a Debit

question 2

True/False

The entry to close Sales Discounts will include a debit to Income Summary.

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Definitions:

Event

An event or incident, particularly one that is significant.

Law Of Effect

A principle in psychology stating that behaviors followed by positive outcomes tend to be repeated, while those followed by negative outcomes are less likely to be repeated.

Reward

A benefit or recognition given for performing a particular action or behavior.

Response

A reaction or action taken by an organism or system as a result of a specific stimulus.