The Following Accounts and Balances Are Taken from Evan Company's

question 71

Multiple Choice

The following accounts and balances are taken from Evan Company's adjusted trial balance: In the closing process,which accounts are credited?

• A)Accounts Receivable,Prepaid Insurance,Salary Expense
• B)Depreciation Expense,Dividends,Insurance Expense,Salary Expense
• C)Depreciation Expense,Insurance Expense,Salary Expense,Prepaid Insurance
• D)Interest Revenue,Service Revenue

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Definitions:

Mutual Accountability

A shared responsibility among members of a group or team, where each person is accountable to all others for their actions and contributions.

Common Performance Goals

Are shared objectives or targets set by a group aiming to improve or achieve a certain level of performance.

Physical Layout

The arrangement of physical components in a space, such as furniture or machinery, which can affect functionality and efficiency.

Leadership Practices

The actions, behaviors, and strategies that leaders employ to inspire, influence, and guide their teams towards achieving goals.