Closing Entries Transfer Net Income or Loss and Dividends Paid

question 29

Multiple Choice

Closing entries transfer net income or loss and dividends paid to:

• A) Paid-in Capital.
• B) Net Income.
• C) Common Stock.
• D) Retained Earnings.

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Definitions:

Windward Side

The side of a mountain or island that faces the direction from which the wind is coming, often receiving more rainfall.

Temperate Regions

Areas of the Earth characterized by moderate temperatures, neither extremely hot nor cold.

Abiotic Factors

Elements of the nonliving, physical environment that affect a particular organism. Compare with biotic factors.

Temperature

A measure of the average kinetic energy of the particles in a system, indicating how hot or cold the system is.