Which of the Following Entries Properly Closes a Temporary Account

question 87

Multiple Choice

Which of the following entries properly closes a temporary account?

• A)Service Revenues 20,000 Income Summary 20,000
• B)Unearned Revenue 10,200 Retained Earnings 10,200
• C)Accumulated Depreciation 1,600 Income Summary 1,600
• D)Dividends 400 Retained Earnings 400

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Definitions:

Contingency Model

A leadership theory that suggests the effectiveness of a leadership style is contingent upon the situation, including the leader's capability and the task characteristics.

Leadership Styles

Various methods or approaches adopted by leaders to guide, direct, and influence the work and behavior of others.

Ethical Problems

Moral dilemmas or issues that arise in a business or professional setting, requiring consideration of right and wrong conduct.

Exchange Relationship

Relationships where interactions are based on a balance of benefits and costs between the parties involved.