Choose the Word or Phrase in [ ] Which Will

question 83

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Christy lives with her dog,Tex,who is dependent on her for support.She [can | cannot] use the Head of Household filing status.

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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.