Closing Entries Are Made

question 44

Multiple Choice

Closing entries are made

• A) in order to terminate the business as an operating entity.
• B) so that all assets, liabilities, and owner's capital accounts will have zero balances when the next accounting period starts.
• C) in order to transfer Profit (or loss) and owner's drawings to the owner's capital account.
• D) so that financial statements can be prepared.

Identify strategies for effective team building and the promotion of teamwork.

Recognize the significance of prosocial motivation and its impact on organizational culture.

Understand the relationship between employee behavior and motivational needs.

Analyze the role of management in motivating employees through empowerment, job design, and recognition programs.

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Definitions:

Conditioning

A method of altering behavior in which an individual learns to connect a new behavior with a stimulus that was previously not related to it.

Psychodynamic Perspective

Modern version of psychoanalysis that is more focused on the development of a sense of self and the discovery of motivations behind a person’s behavior other than sexual motivations.

Self-Actualization

Achieving the maximum expression of one's talents and potentialities, seen as an instinctive urge or requirement prevalent across all individuals.

Free Will

The concept or belief that individuals have the ability to make choices that are not predetermined by past events, genetic makeup, or environmental factors.