The entry to transfer net income to the owner's capital account would include a debit to the owner's capital account

The statement "The entry to transfer net income to the owner's capital account would include a debit to the owner's capital account" is FALSE. When making entries in transferring net income to owner's capital account it must include a debit on Income Summary and a credit on Owner's Capital account. The normal balance of the capital account is credit thus increasing it must require a credit entries.

Fiscal policy because it refers to the use of government spending and tax policies to influence macroeconomic conditions, including aggregate demand, employment, inflation, and economic growth.