Revenues Total $10,200.Expenses Total $7,300.Withdrawals Total $2,600

question 26

Multiple Choice

Revenues total $10,200.Expenses total $7,300.Withdrawals total $2,600.
-What is the balance in the Income summary account after closing Net income or loss to the Capital account?

• A) Debit balance of $2,900
• B) Credit balance of $300
• C) Credit balance of $2,900
• D) Balance of $0

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Definitions:

External Factors

Influences that impact a business or its operations that originate outside of the company, including economic, social, political, and technological factors.

Responsiveness

The speed and quality of a reaction to inputs, changes, or customer needs.

Assessment Measures

Assessment measures are tools or methods used to evaluate the performance, quality, or efficacy of a product, procedure, or individual's knowledge and skills.

Puffery

Describes exaggerated or false praise in advertising that is not meant to be taken literally, typically used to promote products or services.