The Correct Order for Closing Accounts Is

question 117

Multiple Choice

The correct order for closing accounts is:

• A) revenue, expenses, income summary, withdrawals.
• B) revenue, income summary, expenses, withdrawals.
• C) revenue, expenses, capital, withdrawals.
• D) revenue, capital, expenses, withdrawals.

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Definitions:

Market Penetration Strategy

A growth strategy where a business focuses on selling existing products within existing markets to gain a higher market share.

New Markets

These refer to unexplored or less saturated areas or sectors where businesses can expand their presence to increase sales, reach new customers, or introduce innovations.

Same Market

Refers to a situation where companies or products target the same customer segment or geographic area.

BCG Business Portfolio Analysis

A strategic planning tool used by companies to categorize their business units or products based on market growth rate and market share relative to the largest competitor.