Which Account Has a Balance Equal to Net Income Immediately

question 161

Multiple Choice

Which account has a balance equal to net income immediately before it is closed?

• A) The Income summary account
• B) The Drawing account
• C) The Net Income account
• D) The Capital account

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Definitions:

Sociogram

A graphical representation that maps out the relationships within a group, often used to identify social dynamics and networks.

Intensity of Behavior

The strength or magnitude of an action or behavior, often measured in terms of frequency, duration, or amplitude.

Magnitude

The size, extent, or importance of something, often used in the context of measurements or comparisons.

Behavior Occurs

The manifestation or exhibition of actions or reactions of an individual or group in response to external or internal stimuli.