The Entry Made to Close Service Revenue Would Include a Debit

question 38

Multiple Choice

The entry made to close Service Revenue would include a debit to:

• A)Retained Earnings and a credit to Service Revenue.
• B)Service Revenue and a credit to Retained Earnings.
• C)Service Revenue and a credit to Dividends.
• D)Service Revenue and a credit to Net Income.

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Definitions:

Anger

A strong feeling of annoyance, displeasure, or hostility.

Optimism

The general tendency to anticipate favorable outcomes or possess a hopeful outlook on life.

Happiness

A state of well-being and contentment characterized by positive or pleasant emotions ranging from contentment to intense joy.

Emotional Intelligence

The skill to recognize, govern, and articulate personal emotions, in addition to conducting oneself sensibly and with empathy in relationships with others.