In Preparing Closing Entries

question 40

Multiple Choice

In preparing closing entries

• A)each revenue account will be credited.
• B)each expense account will be credited.
• C)the retained earnings account will be debited if there is net income for the period.
• D)the dividends account will be debited.

---

Definitions:

Assertiveness

The quality of being self-assured and confident without being aggressively demanding; a balance between passivity and aggression.

Cooperation

The act of working together towards a common purpose or benefit, often involving mutual assistance and collaboration.

Collaborating

A conflict management style that maximizes both assertiveness and cooperation.

Assertiveness

Assertiveness is the quality of being self-assured and confident without being aggressive, allowing an individual to express their thoughts and defend their rights in a respectful manner.