As Shown in the Accompanying Figure, You Can Turn Off

question 87

Multiple Choice

As shown in the accompanying figure, you can turn off the Reports View dialog box for future report generation by clicking the ____.

• A) Yes button
• B) No button
• C) Don't ask me this again check box
• D) none of the above

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Definitions:

Net Income

The residual financial benefit a company holds after reducing total income by all expenditures and tax payments.

Owner's Drawings Account

An account that tracks the funds withdrawn by the owner from the company for personal use.

Closing Entry

Journal entries used to transfer temporary account balances to permanent accounts and to reset the balances of temporary accounts to zero at the end of each accounting period.

Revenue Accounts

Accounts used to record the income generated from a company’s core operating activities.