What Is the Correct Sequence for Closing the Temporary Accounts

question 53

Multiple Choice

What is the correct sequence for closing the temporary accounts?

• A) revenue accounts,expense accounts,Income Summary,drawing account
• B) expense accounts,revenue accounts,Income Summary,drawing account
• C) revenue accounts,expense accounts,drawing account,Income Summary
• D) drawing account,revenue accounts,expense accounts,Income Summary

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Definitions:

Social Perception

The process by which individuals form impressions and make inferences about other people and social situations based on observable cues and contextual information.

Pygmalion Effect

A psychological phenomenon in which higher expectations lead to an increase in performance.

Self-Fulfilling Prophecies

The psychological phenomenon where a belief or expectation, positive or negative, influences behavior in a way that makes the belief come true.

Integrative Approach

The broad theory that describes personality as a composite of an individual’s psychological processes.