The Most Efficient Way to Accomplish Closing Entries Is to

question 139

Multiple Choice

The most efficient way to accomplish closing entries is to

• A)credit the income summary account for each revenue account balance.
• B)debit the income summary account for each expense account balance.
• C)credit the dividends balance directly to the income summary account.
• D)credit the income summary account for total revenues and debit the income summary account for total expenses.

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Definitions:

Magnitude

in a general sense, refers to the size, extent, or importance of something. In a scientific context, it often relates to the quantitative measure of a physical property.

Behavioral Assessment

The evaluation of an individual's actions or behaviors, often used in psychology to understand and address behavioral issues.

Purpose of Assessment

The purpose of assessment is to gather and analyze information to make informed decisions, evaluate performance, or determine the needs of individuals or groups.

Scope of the Assessment

The extent or range of areas, items, or issues that an assessment is designed to explore or evaluate.