Assume that an organization's operations result in a net profit for the year. When the books are closed, what is the accounting effect of the journal entry that closes out the net profit?
a. it is added to the cash balance
b. it is subtracted from the cash balance
c. it is added to the opening balance of owner's equity
d. it is subtracted from the liabilities
Question 2
An entity in an accounting system can be classified as a resource, event or agent about which data are collected.
Indicate whether the statement is true or false
Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Glaucoma. (a) A buildup of pressure within the eye cavities, often caused by a blockage of vessels t
The Black Death spread over much of Europe in a three-year period in the middle of the fourteenth ce
Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Typical Organization of the CPT Manual
Organization of Proteins