In the Closing of the Accounts at the End of the Period

question 15

Multiple Choice

In the closing of the accounts at the end of the period, which of the following is closed directly into the Retained Earnings account?

• A) Depreciation Expense.
• B) Accumulated Depreciation.
• C) Revenue and liability accounts.
• D) The Income Summary account.

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Definitions:

Sternberg

Refers to Robert Sternberg, a psychologist known for his theory on love and intelligence, which includes components such as the triangular theory of love and the triarchic theory of intelligence.

Gardner

Howard Gardner, an American developmental psychologist best known for his theory of multiple intelligences, which suggests that individuals have various distinct types of intelligence.

Creative People

Individuals characterized by their ability to produce work that is both novel and appropriate in the context of its use.

Validity

The degree to which a tool, test, or study accurately measures what it is intended to measure or achieves what it intends to achieve.