Will Preparation,bankruptcy,and Uncontested Divorces Are Examples of ______

question 43

Multiple Choice

Will preparation,bankruptcy,and uncontested divorces are examples of ______.

• A)customized services
• B)standard services
• C)batch services
• D)continuous services

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Definitions:

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period before transferring the balance to retained earnings.

Revenue Account

An account that tracks the income earned by a company from its normal business operations, excluding expenses.

Debit

The left side of an account.

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account, represented on the right side of the ledger.