The Following Information Is Available for Brendon Company, Inc

question 220

Multiple Choice

The following information is available for Brendon Company, Inc. before closing the accounts. What will be the amount in the Income Summary account that should be closed to Retained Earnings?

• A)$80,000.
• B)$64,400.
• C)$43,000.
• D)$32,400.
• E)$42,400.

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Definitions:

Drive Theory

A psychological theory suggesting that behavior is motivated by the desire to fulfill basic biological needs.

Incentive

A motivation or reason for doing something, often a reward or benefit that encourages specific behavior.

Delay Of Gratification

The ability to resist the temptation for an immediate reward and wait for a later reward, often associated with better psychological outcomes.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, depicting a five-tier model of human needs, arranged in a hierarchy, stating that as basic needs are fulfilled people become motivated to achieve higher level needs.