Assuming That Expenses Exceed Revenues,which of the Following Correctly Indicates

question 28

Multiple Choice

Assuming that expenses exceed revenues,which of the following correctly indicates the structure of the journal entry that is used to close revenue and expense accounts?

• A)Debit Retained Earnings,debit Expenses,and credit Revenues.
• B)Debit Revenues,debit Retained Earnings,and credit Expenses.
• C)Debit Revenues,debit Expenses,and credit Retained Earnings.
• D)Debit Expenses,credit Revenues,and credit Retained Earnings.

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Definitions:

Antisocial Personality Disorder

A long-standing mental condition defined by consistent neglect of or violation against others' rights.

Psychopathy

A disorder of the personality typified by ongoing antisocial actions, a lack of empathy and regret, along with daring, unrestrained, and self-centered characteristics.

Antisocial Personality Disorder

A psychological state where an individual persistently disregards moral standards and is indifferent to the rights and emotions of other people.