The First Entry to Close Accounts Is to Debit Revenue

question 46

True/False

The first entry to close accounts is to debit Revenue and credit Income Summary.

Appreciate the importance of choosing appropriate keywords for efficient search engine results.

Understand the relationship between the web and the Internet, and the role of content aggregators.

Understand the basic applications and functions of artificial intelligence.

Recognize the role of embedded computers and how they improve safety and convenience in various devices.

---

Definitions:

Peace Corps

An agency of the United States government that sends American volunteers abroad to work on projects related to education, health, and economic development in developing countries.

Hydrogen Bomb

A highly destructive nuclear weapon that uses fusion of hydrogen isotopes to release massive amounts of energy, significantly more powerful than an atomic bomb.

Communism

is a socio-political and economic ideology that advocates for a classless society in which the means of production are owned communally, aiming to eliminate personal property and state to achieve common ownership of resources.