Each Individual Revenue Account Is Debited When Closing, and the Total

question 5

True/False

Each individual revenue account is debited when closing, and the total of all the revenue accounts is transferred to Income Summary.

---

Definitions:

Appearance

The way that someone or something looks to others, including aspects of physical presentation, dress, and grooming.

French And Raven

Refers to a social psychology theory identifying five bases of power: legitimate, reward, coercive, expert, and referent.

Referent Power

A form of influence based on the leader's or individual’s ability to cultivate loyalty and attraction, leading others to identify with them.

Legitimate Power

Power that is recognized as deserved or earned, often stemming from a person's position, role, or through the respect they command.