Which of the Following Entries Properly Closes a Temporary Account

question 40

Multiple Choice

Which of the following entries properly closes a temporary account?

• A)Income Summary 20,000 Service Revenue 20,000
• B)Dividends 200 Retained Earnings 200
• C)Accumulated Depreciation 1,600 Income Summary 1,600
• D)Income Summary 400 Salaries Expense 400

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Definitions:

Behavioral Sciences

Disciplines that explore the activities and interactions among human beings, including psychology, sociology, and anthropology.

Political Science

The study of the behavior of individuals and groups within a political environment.

Management Theory

A collection of ideas and principles that aim to improve the efficiency and effectiveness of organizational leadership and decision-making.

Behavior Sciences

An interdisciplinary field that studies human actions and interactions through the lenses of psychology, sociology, and anthropology.