In the Decade Ending in 2012, the _____ Gained the Most

question 27

Multiple Choice

In the decade ending in 2012, the _____ gained the most members, and the _____ Church lost the most members.

• A) United Churches of Christ; Mormon
• B) Lutheran Church; Roman Catholic
• C) Assemblies of God; Baptist
• D) Pentecostal Church; Presbyterian

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Definitions:

Owner's Drawings

Withdrawals of a company's earnings by the owner for personal use, affecting the owner’s equity account in a separately held business.

Accumulated Depreciation

This accounts for the total depreciation expenses charged against a fixed asset since it was put into use, reflecting the decrease in value of the asset.

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period, determining the net income or loss.

Owner's Drawings

Withdrawals made by the owner of a business from the company's funds for personal use.