If the Adjusting Entry to Transfer Net Income and Retained

question 41

Multiple Choice

If the adjusting entry to transfer Net Income and Retained Earnings into the owner's capital account is made prior to the end of the year, the Balance Sheet shows____ .

• A)Retained Earnings
• B)Net Income
• C)Both Net Income and Retained Earnings
• D)None of the above because the Net Income and Retained Earnings have been transferred into capital

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Definitions:

Population

The total number of individuals or entities within a specified area or group which could be studied or observed.

Internal Validity

The characteristic of a study that allows us to conclude that the manipulation of the independent variable caused the observed changes in the dependent variable.

Independent Variable

The variable in an experiment that is manipulated by the researcher to examine its impact on the dependent variable.

Dependent Variable

In research, the variable being tested and measured, expected to change as a result of manipulations to the independent variable.