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According to a survey done on teaching evaluations, students' motivation to participate in teaching evaluations is impacted significantly by their expectation that they will be able to provide meaningful feedback. In other words, if they are going to expend the thought and effort to fill out evaluation forms, (1) Is the form designed to gather meaningful information? and (2) Do the students have enough information to form a meaningful opinion about the instruction? In terms of expectancy theory, students are concerned with ___________, or whether it is worth their efforts.
Drawing Account
An account used to record withdrawals made by an owner from the business for personal use.
Owner's Capital Account
An equity account that represents the owner's invested capital plus any retained earnings or minus any withdrawals.
First Closing Entry
The first journal entry in the closing process that transfers revenue and the expense account balances to the owner’s capital account as either a net income or a net loss.
Owner's Equity
The residual interest in the assets of a business after all liabilities are deducted, essentially the owner's share of the company's net assets.
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