Which of the Following Accounts Is Not Closed to Income

question 199

Multiple Choice

Which of the following accounts is not closed to Income Summary at the end of the accounting period?

• A)Rent Expense
• B)Service Revenue
• C)Unearned Revenue
• D)Supplies Expense

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Definitions:

Self-Perceived Happiness

An individual's subjective assessment of their own well-being and satisfaction with life.

Catharsis Hypothesis

The theory suggesting that expressing or releasing strong emotions leads to a relief from those emotions, often resulting in a sense of rejuvenation and reduction in stress.

Two-Factor Theory

A theory in psychology, often related to emotion or motivation, suggesting two factors are necessary to produce a certain outcome or effect.

Adaptation-Level Phenomenon

The psychological principle that states individuals judge new experiences based on their past experiences.