Which of the Following Accounts Should NOT Be Closed to Income

question 32

Multiple Choice

Which of the following accounts should NOT be closed to Income Summary at the end of the fiscal year?

• A) Salaries Expense
• B) Fees Earned
• C) Utilities Expense
• D) Withdrawals

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Definitions:

Process Range

The difference between the maximum and minimum values in a set of data, reflecting the variability in a process.

Assignable Cause

A specific, identifiable source of variation in a process, distinct from random variation and often indicating a need for corrective action.

Inadequate Training

A situation where employees have not been provided sufficient or appropriate training to perform their jobs effectively.

Central Limit Theorem

The theoretical foundation for \(\overline{x}\)-charts, which states that regardless of the distribution of the population of all parts or services, the x distribution tends to follow a normal curve as the number of samples increases.