Which of the Following Could Not Possibly Be a Closing

question 134

Multiple Choice

Which of the following could not possibly be a closing entry?

• A)Debit Income Summary and credit owner's Capital
• B)Debit Income Summary and credit Withdrawals
• C)Debit owner's Capital and credit Withdrawals
• D)Debit owner's Capital and credit Income Summary

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Definitions:

Internalization

The process of integrating beliefs, attitudes, or behaviors into one's own value system or way of being.

Instrumental Morality

A stage in moral development where individuals base their moral decisions on the rewards or consequences of actions, often seen in children.

Good-child Morality

A stage in moral development where behavior is guided by seeking approval and maintaining good relations with others.

Moral Reasoning

The process of determining right from wrong in a situation based on personal values, societal norms, and ethical principles.