In the 2016 Presidential Election News Coverage, the Media Focused

question 58

True/False

In the 2016 presidential election news coverage, the media focused on the issues rather than scandals of the candidates.

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Definitions:

Capital

The financial resources that businesses use to fund their operations and growth.

Closing Process

The final steps in the accounting cycle used to update the financial records for the period's revenues, expenses, and dividends to prepare for the next accounting period.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, illustrating the company's profit or loss.

Income Summary Account

A temporary account used in closing process to transfer the balances of all revenue and expense accounts to Retained Earnings.