Under Which Circumstance Would One Less Closing Entry Than Usual

question 117

Multiple Choice

Under which circumstance would one less closing entry than usual be made?

• A)When a net loss has been suffered
• B)When withdrawals by the owner are equal to net income for the period
• C)When net income is zero
• D)When the owner's Capital account is zero prior to posting of closing entries

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Definitions:

External Distractions

Involve environmental stimuli such as noises or visual cues that detract from one's focus or concentration.

One-On-One

A personalized interaction or encounter between two individuals, often used in contexts like coaching or therapy.

Grief Model

A framework describing the stages of emotional and psychological response to loss, such as the five stages outlined by Elisabeth Kübler-Ross.

Kübler-Ross

Refers to a model, originally described by Elisabeth Kübler-Ross, outlining the five stages of grief people go through when facing terminal illness or significant loss.