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2 years ago

Revenues and expenses are transferred to the ________ account before their final transfer into the retained earnings account.

1 answer:

6 0

<span>D is the correct answer. Income summary is a sort of "catch-all" account that holds both revenues and expenses before recording them as retained earnings. These will then be rectified at the end of the manual accounting period. If there is a net profit or loss for the business, it will be reflected during the accounting period in the income summary.</span>

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2 years ago

Question 1-12

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The change that would encourage GDP growth to slow is the automobile industry reduces hours for factory workers.

<h3>What would cause GDP growth to slow?</h3>

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

If the hours of work for factory workers is reduced, output would be reduced and this would slow GDP growth.

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Deffense [45]

Answer:

Novak Company Journal. $

June 1

1. Purchases Dr. 26,026

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2 years ago

If government spending increases or personal income taxes decrease, what are the likely effects on output, price level, and inte

Mila [183]

When there is an increase in government spending, there will be an increase on the output, price level, and interest rates

<h3>What is a government spending?</h3>

This refers to the funds injected to the public sector on the acquisition of services such as education, healthcare, social protection, defense etc.

Most time, the effect of an an increase in government spending leads to an increase on the output, price level, and interest rates as it is a method of stimulate demand.

Therefore, the Option A is correct.

Revenues and expenses are transferred to the​ ________ account before their final transfer into the retained earnings account.

Revenues and expenses are transferred to the ________ account before their final transfer into the retained earnings account.