Which Scenario Is an Example of a Parent Serving as Social

question 2

Multiple Choice

Which scenario is an example of a parent serving as social manager in the socialization of generosity?

• A)Tanya's mother signs her child up for volunteer work at the local hospital after school.
• B)Frank's dad explains to his child how important it is to give to people who have less than they do.
• C)Hannah's mom often makes food for a neighbourhood mother whose husband is ill.
• D)Michael's dad tells his children that they need to share their toys when their friends play at their home.

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Definitions:

Closing Entries

Closing entries are journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the temporary accounts for the next accounting period.

Adjusted Trial Balance

A trial balance taken after adjusting entries have been made to ensure total debits equal total credits.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to a permanent owner's equity account, preparing the accounts for the next period.

Adjusted Trial Balance

A record comprising all accounts with their respective balances, updated following adjustment entries, which serves as a foundation for creating financial reports.