The Entry to Close the Revenue Account Includes a

question 48

Multiple Choice

The entry to close the revenue account includes a

• A)debit to Income Summary for ₤3,400.
• B)credit to Income Summary for ₤3,400.
• C)debit to Income Summary for ₤7,000.
• D)credit to Income Summary for ₤7,000.

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Definitions:

Method of Loci

A mnemonic device that involves associating items to be remembered with physical locations.

Vivid Mental Images

Highly detailed and clear mental pictures generated by the mind, often used in memory and creative processes.

Motivated Forgetting

A psychological theory suggesting that people are more likely to forget information that causes emotional distress or anxiety.

Memories Retrieved

Refers to the process of recalling information that has been previously stored in memory.