JOros Showed a Net Loss of $3,200

question 70

Multiple Choice

J.Oros showed a net loss of $3,200.The entry to close the Income Summary account would include a:

• A)debit to Oros,Capital,$3,200.
• B)debit to Income Summary ,$3,200.
• C)credit to Oros,Capital,$3,200.
• D)credit to Cash,$3,200.

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Definitions:

Social Services

Public and private services designed to aid individuals and communities in need, including healthcare, education, and welfare services.

Competition

The rivalry among businesses to attract customers, increase sales and market share, and achieve a sustainable competitive advantage.

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Encourages or promotes greater productivity and effectiveness in processes or systems.