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
Business
"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