The Income Statement for the Month of June, 2021 of Camera

question 93

Multiple Choice

The income statement for the month of June, 2021 of Camera Obscura Enterprises contains the following information: After the revenue and expense accounts have been closed, the balance in Income Summary will be

• A)$0.
• B)a debit balance of $1,300.
• C)a credit balance of $1,300.
• D)a credit balance of $7,000.

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Definitions:

Happiness

A state of well-being and contentment characterized by emotions ranging from satisfaction to intense joy.

Friendliness

A behavior or attitude that is warm, welcoming, and ready to engage in positive interactions with others.

Sympathetic Nervous System

Part of the autonomic nervous system that activates the fight or flight response during perceived threats, by increasing heart rate, blood pressure, and releasing adrenaline.

Parasympathetic Nervous System

A division of the autonomic nervous system responsible for relaxation and conservation of energy in the body.