Figure 10-9

question 121

Multiple Choice

Figure 10-9
-Refer to Figure 10-9. The installation of a scrubber in a smokestack reduces the emission of harmful chemicals from the smokestack. Therefore, the market for smokestack scrubbers is shown in

• A)Panel (a).
• B)Panel (b).
• C)Panel (c).
• D)Both (b) and (c) are correct.

---

Definitions:

Drawing Account

An account used to record withdrawals of cash or other assets from a business by the owner for personal use.

Final Entries

Journal entries made at the end of an accounting period to prepare accounts for the next period or close the books.

Journalizing

The process of recording a transaction in the journal.

Adjustments and Closing Entries

The journal entries made at the end of an accounting period to allocate income and expenditures to the appropriate periods.