Which of the Following Entries Properly Closes a Temporary Account

question 87

Multiple Choice

Which of the following entries properly closes a temporary account?

• A)Service Revenues 20,000 Income Summary 20,000
• B)Unearned Revenue 10,200 Retained Earnings 10,200
• C)Accumulated Depreciation 1,600 Income Summary 1,600
• D)Dividends 400 Retained Earnings 400

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Definitions:

Idiosyncratic

Pertaining to traits or characteristics that are unique to an individual, often diverging from the norm or general expectations.

Productive

Referring to the ability to produce significant amounts of output, work, or results efficiently.

Collective Behaviour

The actions, thoughts, and feelings of a relatively spontaneous and unstructured group of people in response to similar stimuli or conditions.

Social Modelling

The process of learning behaviors, attitudes, or emotional reactions through observing and imitating others.