The Entry Made to Close Service Revenue Would Include a Debit

question 38

Multiple Choice

The entry made to close Service Revenue would include a debit to:

• A)Retained Earnings and a credit to Service Revenue.
• B)Service Revenue and a credit to Retained Earnings.
• C)Service Revenue and a credit to Dividends.
• D)Service Revenue and a credit to Net Income.

---

Definitions:

Organizational Culture

A pattern of shared norms, rules, values, and beliefs that guide the attitudes and behaviors of its employees.

Norms

The informal rules of a team’s behavior that govern the team.

Values

Core principles or standards of behavior that are considered important by an individual or group in terms of guiding their actions and judgments.

Artifacts

Tangible or visible elements in an organization's culture, such as its language, symbols, stories, rituals, and physical setup, which serve as expressions of its values and norms.