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

question 34

Multiple Choice

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

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

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Definitions:

Trust

The belief in the reliability, truth, or ability of someone or something.

Vulnerable

A state of being open to harm, damage, or attack due to weaknesses or exposed positions.

Leadership

The ability to influence, inspire, and guide others to achieve a common goal.

Transactional Leadership

A leadership style that focuses on the exchanges that occur between leaders and their followers, where leaders reward or discipline followers based on performance.