Revenues and Expenses May Be Transferred to the ________ Account

question 106

Multiple Choice

Revenues and expenses may be transferred to the ________ account before their final transfer into the Owner,Capital account.

• A) Net Income
• B) Income Summary
• C) Owner, Withdrawals
• D) Assets

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Definitions:

Performance Measures

Metrics used to evaluate the efficiency and effectiveness of actions or performances within an organization.

Merit Pay System

A compensation strategy that increases pay based on performance and achievements.

Advantages

Benefits or favorable factors that give an individual, group, or entity a better position or greater likelihood of success.

Disadvantages

The negative, less favorable aspects or conditions of a situation, proposal, or plan.