Which of the Following Accounts Has an Ending Balance Equal

question 148

Multiple Choice

Which of the following accounts has an ending balance equal to net income immediately before it is closed?

• A) Income Summary
• B) Dividends
• C) Net Income
• D) Retained Earnings

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Definitions:

Product Life Cycle

The advancement of a product through various phases that include its introduction, growth, maturation, and eventual decline.

Growth

An increase in some quantity over time, such as revenue, size, or population.

Product Life Cycle

The phases a product experiences, starting from its launch, progressing through growth and maturity, before reaching its decline in the marketplace.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products. It typically includes product, price, place, and promotion.