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:

Pebble Tools

One of the earliest forms of stone tools, shaped by chipping away pieces to create an edge, used by ancient human ancestors.

Cooking Food

The process of preparing food by combining, mixing, and heating ingredients, which can improve taste and make the food safer to eat.

Detoxifies

The process of removing toxic substances from a living organism, or converting them into less harmful compounds.

Neandertals

An extinct species or subspecies of archaic humans who lived in Eurasia until about 40,000 years ago, known for their robust build and association with certain cultural artefacts.