The Correct Order for Closing Accounts Is

question 117

Multiple Choice

The correct order for closing accounts is:

• A) revenue, expenses, income summary, withdrawals.
• B) revenue, income summary, expenses, withdrawals.
• C) revenue, expenses, capital, withdrawals.
• D) revenue, capital, expenses, withdrawals.

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Definitions:

Categorical Imperative

Kant's principle that dictates an action as morally obligatory, independent of personal desire or consequence, emphasizing universal moral laws.

Universality

A principle that suggests certain concepts or ethical judgments are universally applicable and valid across different cultures and situations.

Respect for Persons

A principle that emphasizes treating individuals with dignity, acknowledging their autonomy, and recognizing their rights.

Categorical Imperative

A foundational concept in Kantian ethics that proposes an action is morally right if it can be universally applied as a principle for behavior, emphasizing duty over consequences.