Closing Entries Are Necessary to Update The

question 107

Multiple Choice

Closing entries are necessary to update the:

• A)income summary account
• B)cash account
• C)retained earnings account
• D)capital stock account

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Definitions:

Immediate Problems

Urgent issues or challenges that require prompt attention and resolution to prevent further complications or negative outcomes.

Response Cost

An application of contingent withdrawal of a positive reinforcer punishment. A response (or behavior) “costs” the individual something he or she likes, such as money, points, or activities/privileges. Receiving a speeding ticket is an example of a response cost because the behavior of speeding costs individuals something they find reinforcing—money.

Fair Contracts

Agreements or arrangements that are just, equitable, and agreed upon by all parties involved, often emphasizing fairness and mutual benefit.

Teacher Behavior

Refers to the actions and conduct of a teacher in the classroom, including teaching methods, interaction with students, and management strategies, which influence student learning and classroom atmosphere.