Which of the Following Applies to Both the Depreciation Expense

question 26

Multiple Choice

Which of the following applies to both the depreciation expense account and the accumulated depreciation account at the end of the first year of operations?

• A) They are closed.
• B) They appear in a trial balance prepared after the adjusting entries but before the closing entries.
• C) They appear in a trial balance prepared prior to the adjusting and closing entries.
• D) They are not closed at the end of the accounting period.

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Definitions:

Uncontrolled Sites

Locations not regulated or overseen by a governing body, often posing potential risks due to a lack of safety or quality standards.

Substitution

The act of replacing one product, service, or material with another that performs the same function, often to achieve cost-savings or improve performance.

Recycling

The process of converting waste materials into new materials and objects, as a way to reduce consumption of fresh raw materials.

Supplier Selection

The process of evaluating and choosing suppliers based on criteria such as price, quality, reliability, and service to best meet an organization’s needs.