Which of the Following Accounts Will Be Closed by Crediting

question 150

Multiple Choice

Which of the following accounts will be closed by crediting the Income Summary account?

• A) Service Revenue
• B) Depreciation Expense
• C) Accounts Payable
• D) Accumulated Depreciation

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Definitions:

Process Innovation

The adoption of a novel or substantially enhanced method for producing or distributing offerings in business processes.

Assembly Method

A process in manufacturing where parts are put together to make a final product.

Marginal-Utility-To-Price Ratio

The comparison of the additional satisfaction obtained from consuming one more unit of a good to its cost.

Marginal Utility

The incremental pleasure or value received from consuming one more unit of a good or service.