In Preparing Closing Entries

question 22

Multiple Choice

In preparing closing entries

• A) each revenue account will be credited.
• B) each expense account will be credited.
• C) the owner's capital account will be debited if there is net income for the period.
• D) the owner's drawings account will be debited.

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Definitions:

Drug Use

The consumption of substances for their psychoactive effects, which can range from prescribed medications to illegal narcotics.

Reckless Behavior

Actions taken without consideration for the potential harm or consequences to oneself or others, often impulsive and risky.

Adolescents

Young people in the transitional stage of development from childhood to adulthood, typically ranging from age 13 to 19.

Risky Behavior

Actions or activities that involve a significant chance of causing physical or psychological harm.