Which of the Following Is the Last Step in the Procedure

question 51

Multiple Choice

Which of the following is the last step in the procedure of closing accounts at the end of a fiscal period?

• A) Close the expense account(s) into Income Summary.
• B) Close the drawing account into the capital account.
• C) Close the revenue account(s) into Income Summary.
• D) Close the income summary account into the capital account.

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Definitions:

Situational Leadership Approach

A leadership model that proposes the effectiveness of a leadership style is dependent on the readiness or developmental level of the leader's followers.

Confidence

The feeling or belief in one’s abilities or qualities, often regarded as a critical trait for leaders to inspire trust and motivate others.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, driven by needs, desires, or values.

Performance Evaluation

The systematic process of assessing and reviewing an employee's job performance and productivity.