After Posting the Second Closing Entry to the Income Summary

question 90

Multiple Choice

After posting the second closing entry to the income summary account, the balance will be equal to

• A) zero.
• B) owner's equity.
• C) revenues for the period
• D) the net income or (loss) for the period.

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Definitions:

Critical Skills

Essential abilities or competencies necessary for effective performance in a particular job, field, or activity.

Levels Of Analysis

Different perspectives from which a topic can be examined, including individual, group, organizational, national, or international dimensions.

Organizational Behavior

The study of how people interact within groups in a work setting, including the analysis of organizational structures and cultures.

Conducted

The action of organizing and carrying out certain activities, experiments, or studies systematically.