Which of the Following Appears in the Income Statement Credit

question 78

Multiple Choice

Which of the following appears in the income statement credit column of a worksheet?

• A)service revenue
• B)income summary
• C)owner withdrawals
• D)accounts receivable

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Definitions:

Normative Economics

Normative economics deals with the evaluation of economic outcomes through the prism of what ought to be, recommending actions by what is deemed desirable or ideal.

Macroeconomics

The branch of economics that studies overall economic dynamics, including inflation, unemployment, and economic growth, on a national or global scale.

Rate of Unemployment

The proportion of people in the labor force who are unemployed and actively seeking work.

Microeconomics

The branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold.