The Special Account Used Only in the Closing Process to Temporarily

question 34

Multiple Choice

The special account used only in the closing process to temporarily hold the amounts of revenues and expenses before the net difference is added to (or subtracted from) the owner's capital account is the:

• A) Contra account.
• B) Income Summary account.
• C) Nominal account.
• D) Closing account.
• E) Balance column account.

Understand the importance of adopting international quality standards and continuous improvement in operations.

Comprehend the impact of consumer behavior and environmental changes on management practices.

Recognize the principles of human needs as per Maslow's theory.

Differentiate between classical and behavioral management approaches and their influence on worker motivation.

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Definitions:

Successful

The accomplishment of an aim or purpose.

Sex-Role Spillover Theory

The concept that societal expectations about gender roles can influence behaviors and attitudes in contexts where they are irrelevant, such as the workplace.

Harassment

Involves aggressive pressure or intimidation, often in a repeated and unwanted manner.

Sex Object

Viewing a person solely in terms of their sexual attractiveness or function, often disregarding their humanity or personal agency.