Which of the Following Entries Records the Closing of Penny

question 80

Multiple Choice

Which of the following entries records the closing of Penny Pincher, Drawing at the end of the accounting period?

• A)Debit Penny Pincher, Drawing; credit Penny Pincher, Capital
• B)Debit Penny Pincher, Capital; credit Income Summary
• C)Debit Penny Pincher, Capital; credit Penny Pincher, Drawing
• D)Debit Income Summary; credit Penny Pincher, Drawing

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Definitions:

Battery

A criminal offense involving the unlawful physical acting upon a threat, distinguished from assault which is the act of creating apprehension of such contact.

Poison

A substance that is capable of causing illness or death when introduced into the body or onto the skin.

Assault And Battery

Two distinct but often related criminal charges, with assault referring to the threat of physical harm and battery to the actual physical impact on another person.

False Imprisonment

False imprisonment is the unlawful restraint of a person against their will, without legal justification.