Increases in working capital needs should be included as part of the initial outlay of a project, but
decreases in working capital for a project should not be considered because they are not
guaranteed.
Indicate whether the statement is true or false
FALSE
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After preparing and posting the closing entries to close revenues (and gains) and expenses (and losses) into the income summary, the income summary account has a debit balance of $33,000. The entry to close the income summary account will include:
a. A debit of $33,000 to owner withdrawals. b. A credit of $33,000 to owner withdrawals. c. A debit of $33,000 to income summary. d. A debit of $33,000 to owner capital. e. A credit of $33,000 to owner capital.
A sales representative whose expertise is in unraveling customers' problem is called a(n) ________
A) order taker B) missionary C) technician D) solution vendor E) demand creator