The Following Information Is from the Income Statement of the Dirt

question 302

Multiple Choice

The following information is from the Income Statement of the Dirt Poor Laundry Service: The entry to close the Service Revenue account includes a:

• A) debit to Service Revenue for $5,500.
• B) credit to Service Revenue for $5,500.
• C) debit to Income Summary for $5,500.
• D) debit to Retained Earnings for $5,500.

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Definitions:

Distinctiveness

The quality or state of being different or unique compared to others.

Consensus

General agreement or collective opinion among members of a group, often reached after discussion and negotiation.

Ability Attribution

The process of attributing outcomes to one's own innate capabilities or to external factors.

Successful

Achieving desired visions and planned goals through effectively managing oneself or others.