X sells to A one-half of a partnership capital interest that totals $70,000 for $40,000 . A's capital account in the partnership should be credited for $40,000

Which of the following is NOT a closing entry?

a. Retained Earnings Dividends b. Service Revenue Income Summary c. Salaries Payable Income Summary d. Income Summary Rent Expense

Small firms:

A) will be unable to get insurance B) are more likely to self-insure C) face more moral hazard compared with larger firms D) are more likely to be dependent on insurance compared with large firms