The Closing Entry for Revenue Accounts Includes a Debit to Retained

question 5

True/False

The closing entry for revenue accounts includes a debit to Retained Earnings and a credit to all revenue accounts.The closing entry for revenue accounts includes a debit to all revenue accounts and a credit to Retained Earnings.

---

Definitions:

Response Variable

The outcome of interest in a study or experiment, which is affected by the explanatory variables.

R-Squared Value

A numerical value indicating how much of the variability in a dependent variable can be accounted for by an independent variable(s) within a regression analysis framework.

Observed Variation

The variance noticed in data due to different factors that distinguish one piece of data from another.

X1

Often used to denote the first variable or predictor variable in statistical models and equations.