When the Balance of the Income Summary Account Is a Debit

question 81

Multiple Choice

When the balance of the Income Summary account is a debit, the entry to close this account is

• A) debit Capital; credit Income Summary.
• B) debit Income Summary; credit Revenue.
• C) debit Revenue; credit Income Summary.
• D) debit Income Summary; credit Capital.

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Definitions:

Means-Ends Test

A method of determining the constitutionality of a legislation by analyzing the relationship between the law's goals and the means chosen to achieve those goals.

Social Purpose

The intended positive impact on society or communities, often guiding the mission of organizations and projects.

Illegitimacy

The condition of being born to parents not legally married to each other, historically affecting rights and social status.

Full Strict Scrutiny

A stringent form of judicial review that courts use to determine the constitutionality of certain laws, requiring the law to be necessary to achieve a compelling governmental interest.