Which of the Following Accounts Will Be Closed by Debiting

question 20

Multiple Choice

Which of the following accounts will be closed by debiting the Income Summary account?

• A)Owner's Name, Capital
• B)Service Revenue
• C)Accounts Receivable
• D)Salaries Expense

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Definitions:

Efficiency

The ability to achieve maximum productivity with minimum wasted effort or expense, often focusing on optimizing processes and resource use.

Coordinating Tasks

The organization and alignment of activities and efforts of a group or team to achieve a common goal or objective.

Virtual Organizations

An organization that uses technology to allow people and groups to work together despite being in different physical locations.

Behavioral Incentives

Rewards or punishments designed to influence and modify the behavior of individuals or groups.