Martinville, Inc

question 76

Multiple Choice

Martinville, Inc. earned revenues of $18,000 and incurred expenses of $4,000. The company declared and paid cash dividends of $3,500. What is the balance in the Income Summary account prior to closing net income or loss to the Retained Earnings account?

• A) debit balance of $14,000
• B) debit balance of $10,500
• C) credit balance of $14,000
• D) credit balance of $18,000

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Definitions:

External Factors

Elements outside of an individual's or organization's immediate control that can influence outcomes or performance.

Group Deviancy

Behaviors within a group that deviate from the group's norms or societal expectations.

Pregroup Training

Training given to individuals or members before they join a formal group, aimed at preparing them for the group's objectives, norms, and dynamics.

Pregroup Screening

The process of evaluating potential group participants before they join, to ensure compatibility and readiness for the group's purposes.