Closing the Drawings Account to Owner's Capital Is Not Necessary

question 178

True/False

Closing the drawings account to Owner's Capital is not necessary if net income is greater than owner's drawings during the period.

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Definitions:

Mass Market Targeting

A marketing strategy aimed at appealing to a wide, general audience without segmenting it into smaller groups.

Multiple Marketing Programs

The use of various marketing strategies and campaigns simultaneously to target different market segments or achieve different objectives.

Consumer Buying Process

The steps a consumer goes through when deciding to purchase a product or service, typically including problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

Unsatisfied Needs

Desires or requirements of consumers that have not been met or addressed by available products or services.