To which of the following accounts should the balance in the Income Summary account be closed?

Tax havens are characterized by all of the following EXCEPT that they are ________

A) legal means to reduce corporate income taxes B) regions where certain taxes are absent C) supported by the World Bank and the EU D) used to establish operations or funnel transactions

The following appears in big bold letters in a publication by State Street Global Investors' publication, "Beyond Active and Passive: Advanced Beta Comes of Age" (2014):

But in recent years, a "third approach" has emerged that blurs the boundaries between alpha and beta. Explain what this statement means.