Closing the Revenue, Expense, and Dividend Accounts

question 115

Multiple Choice

Closing the revenue, expense, and dividend accounts:

• A) yields the amount of net income or net loss for the period.
• B) yields the change in retained earnings for the period.
• C) yields the change in the permanent accounts for the period.
• D) yields the final balance in shareholder's equity for the period.
• E) yields the change in balance sheet accounts.

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Definitions:

Efficiency

The ability to achieve a desired outcome with the least waste of time, effort, or resources.

Psychotherapy

The treatment of mental disorder or emotional challenges through psychological rather than medical means, involving various therapeutic techniques.

Brain Function

The activities carried out by the brain that enable mental operations, including thought, emotion, and behavior.

Biological Treatments

Medical interventions that address the biological aspects of mental health disorders, including medication, neurosurgery, and electroconvulsive therapy.