When a Firm Has Net Income,which of the Following Is

question 93

Multiple Choice

When a firm has net income,which of the following is not an appropriate closing entry?

• A)Debit Sales,credit Income Summary
• B)Debit Retained Earnings,credit Income Summary
• C)Debit Income Summary,credit Insurance Expense
• D)Debit Income Summary,credit Depreciation Expense

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Definitions:

Chronological Dimensions

The arrangement or ordering of events in the order in which they occurred in time.

Cultural Dimensions

The aspects of culture that influence people's values, behaviors, and communication styles, often used in comparative studies of different societies.

Social Dimensions

Aspects of social interaction and structure, including norms, values, and social identities, that affect human behavior and interaction.

Physical Dimensions

Physical dimensions refer to the measurable extents of an object, including its length, width, height, or depth.