The Balance in the Capital Account After All Closing Entries

question 4

Multiple Choice

The balance in the capital account after all closing entries have been posted is:

• A)equal to net income or loss for the period.
• B)the same as the balance of the account on the worksheet.
• C)always more than the balance of the account on the worksheet.
• D)the balance that will appear on the balance sheet.

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Definitions:

Massed Practice

A learning strategy that involves intensive, continuous sessions of practice or study with little to no rest between sessions.

Distributed Practice

A learning strategy that involves spreading study sessions out over time, which has been shown to improve retention of information compared to massed practice (cramming).

Three Hours

A period of time equivalent to 180 minutes.

Serial-Position Effect

A psychological phenomenon in which people tend to recall the first and last items in a series best, and the middle items worst.