Which of the Following Accounts Will Be Directly Closed to Capital

question 49

Multiple Choice

Which of the following accounts will be directly closed to Capital at the end of the fiscal year?

• A) Salaries Expense
• B) Fees Revenue
• C) Withdrawals
• D) Depreciation Expense

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Definitions:

Information Centralization

The practice of gathering and managing all relevant information within a single, centralized database or system to improve accessibility and decision-making.

Current Inventory

The existing stock of goods held by a business meant for sale or production.

Continuous Review Policy

A inventory management approach where stock levels are constantly monitored, triggering reorders as needed.

ROP

Reorder Point, the inventory level at which a new order should be placed to replenish stock before it runs out.