The Final Closing Entry to Be Journalized Is Typically the Entry

question 74

Multiple Choice

The final closing entry to be journalized is typically the entry that closes the

• A)revenue accounts.
• B)dividends account.
• C)retained earnings account.
• D)expense accounts.

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Definitions:

Mere-Exposure Effect

A mental effect in which individuals naturally favor items or concepts they recognize due to their familiarity.

Halo Effect

A cognitive bias where the perception of one positive trait in an individual leads to the assumption of other positive traits or abilities.

Self-Serving Bias

A cognitive bias that involves attributing positive events to one's own character but attributing negative events to external factors.

Halo Effect

A mental shortcut where the general perception of an individual, corporation, brand, or product shapes the observer's emotions and opinions regarding that entity's attributes or qualities.