The Entry to Close Expense Account(s)

question 30

Multiple Choice

The entry to close expense account(s) :

• A)increases total assets.
• B)decreases total assets.
• C)decreases retained earnings.
• D)increases retained earnings.

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Definitions:

Pessimism

Pessimism is an attitude or mindset characterized by a tendency to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future.

Endorphins

The body’s own pain-killing chemicals, which operate by blocking the transmission of pain messages to the brain.

Inhibitory

Pertaining to a process that decreases the likelihood of a reaction occurring, often referring to neural signals in the brain that dampen activity.

Behavioral Activation System

A neurobiological system that influences an individual's motivation and ability to pursue and achieve goals, often associated with positive emotional states.