Income Summary Is Closed with a Debit to Income Summary

question 29

True/False

Income Summary is closed with a debit to Income Summary and a credit to the Withdrawals account.

---

Definitions:

Experience Of Emotion

The complex psycho-physiological experience of an individual's state of mind as interacting with biochemical (internal) and environmental (external) influences.

Cannon-Bard Theory

A theory of emotion that argues that physiological arousal and the emotional experience occur simultaneously and independently.

Two-Factor Theory

A psychological theory proposing that emotional experiences arise from physiological arousal followed by the attribution of a cause for that arousal.

James-Lange Theory

A conceptual framework suggesting that physiological responses to incidents cause emotions to emerge.