To What Account Is the Balance in the Income Summary

question 79

Multiple Choice

To what account is the balance in the Income summary account closed?

• A)The Capital account
• B)The Drawings account
• C)The Profit account
• D)The Revenue account

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Definitions:

Loner

An individual who prefers to be alone rather than with others, often by personal choice or as a result of social anxiety or other factors.

Cold

Relates to lower temperatures or a common viral infection causing respiratory symptoms, depending on context; not typically a psychological term.

Hypersensitivity

An exaggerated or heightened response to stimuli, which can be physical, such as in allergies, or emotional, such as in mental health disorders.

Negative Evaluations

The process of critically assessing something in a manner that highlights its faults or shortcomings.