The Income Summary Account Is Credited in the Entry That

question 142

Multiple Choice

The Income Summary account is credited in the entry that closes

• A)the Withdrawals account.
• B)expense accounts.
• C)net income.
• D)revenue accounts.

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Definitions:

Cognitive-behavioral Therapist

A mental health professional specializing in cognitive-behavioral therapy, focusing on changing negative thought patterns and behaviors.

Negative Thinking

A cognitive pattern where individuals consistently anticipate the worst possible outcomes or view situations and experiences in a pessimistic light.

Happy Activities

Activities that elicit joy, satisfaction, and positive emotional states in individuals.

Cognitive Therapy

A form of psychotherapy that seeks to alleviate psychological stresses by correcting faulty conceptions and self-signals.