The Owner's Drawing Account Is Closed By

question 78

Multiple Choice

The owner's drawing account is closed by:

• A)debiting the owner's capital account and crediting the owner's drawing account.
• B)debiting the owner's drawing account and crediting the owner's capital account.
• C)debiting Income Summary and crediting the owner's drawing account.
• D)debiting the owner's drawing account and crediting Income Summary.

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Definitions:

Deliberate Thinking

Conscious, intentional thought processes aimed at decision making or problem-solving.

Neural Pathways

Networks of neurons in the brain that transmit signals from one part to another, facilitating communication and function within the nervous system.

Emotional Reactions

Responses that involve psychological and physiological changes to an individual's emotional state in response to stimuli.

Sympathetic Nervous System

Part of the autonomic nervous system that prepares the body for action by activating the fight or flight response.