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The idea of generalized intelligence was advocated most strongly by ____.
Income Summary Account
An account used in the closing process to summarize the period's revenues and expenses before transferring the net income or loss to retained earnings.
Owner's Capital Account
Represents the total equity or investment that the owner has in the business, including initial investment and subsequent profits or losses.
Balance
The amount of money or value remaining in an account after accounting for debits and credits.
Income Summary
An account used in the closing process that summarizes the revenue and expenses for a specific accounting period.
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