An Expense Account Is Closed with a Credit to the Expense

question 37

True/False

An expense account is closed with a credit to the expense account and a debit to the Income Summary account.

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Definitions:

Customer Representative

An individual tasked with assisting and providing information to customers, ensuring a positive experience with a company or brand.

Online Chat

A form of real-time text communication between users over the internet, often used for customer service and social interaction.

Website Design

The process of creating and arranging the elements of a website, including layout, user interface, and visual aesthetics.

Social Network

A platform or system that connects individuals or organizations, enabling them to communicate, share information, and form communities.