In the Closing Procedure, the Expense Account(s) Should Be Closed

question 29

Multiple Choice

In the closing procedure, the expense account(s) should be closed into the:

• A) Income Summary account.
• B) Net Income account.
• C) Expense Payable account.
• D) Drawings Account.

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Definitions:

General Adaptation Syndrome

A three-stage response (alarm, resistance, exhaustion) that the body goes through when exposed to prolonged stress.

Sexually Transmitted Infections

Infections that are primarily spread through sexual contact, including viruses, bacteria, and parasites, affecting sexual and reproductive health.

Religious Participation

Engagement in activities or practices associated with a particular faith or spiritual community.

Problem-Focused Coping

A stress management strategy that aims to address and manage the cause of stress directly.