James Service Company earned revenues of $100,000 and incurred expenses of $107,000. Prepare the entry to close the Income Summary account

What will be an ideal response

Retained Earnings 7,000
Income Summary 7,000

Business

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Which of the following is true of CSFs?

A) CSFs focus on individual managers and their information needs. B) CSFs can help identify information systems needs. C) CSFs define what must go right for an organization to be successful. D) All of the above

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"Welcome bad news" is one of six guidelines for effective strategic management offered by R. T. Lenz

Indicate whether the statement is true or false

Business