If Income Summary Has a $13,500 Debit Balance Before It

question 89

Multiple Choice

If income summary has a $13,500 debit balance before it is closed to the capital account, the company:

• A)generated a net income of $13,500.
• B)incurred a net loss of $13,500.
• C)had revenues that exceeded expenses by $13,500.
• D)had expenses that were $13,500 less than revenues.

Understand the evolution of programming languages and their primary applications.

Recognize the contributions of individuals and teams to computing history.

Describe the development and characteristics of early operating systems.

Explain the significance of GUI in computer interactions and identify the first computers to implement it.

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Definitions:

First Amendment

An amendment to the United States Constitution guaranteeing freedoms concerning religion, expression, assembly, and the right to petition.

Corporations

Legal entities created under state law that have a separate legal personality, can own property, enter into contracts, and be sued or sue.

Judicial Review

The courts’ power to declare the actions of the other branches of government unconstitutional.

Constitution's Reading

The interpretation or manner of understanding the constitutional text of a country.