Which of the Following Accounts Will Be Closed by Crediting

question 30

Multiple Choice

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

• A)Accumulated depreciation
• B)Service revenue
• C)Accounts payable
• D)Depreciation expense

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Definitions:

Simple Linear Regression

A mathematical approach that establishes a connection between a dependent variable and a single independent variable through the application of a linear equation to the collected data.

Model

A simplified representation or abstraction of reality, typically used for explaining complex systems or predicting future outcomes.

Multiple Regression

An approach in statistical analysis where the link between a dependent variable and multiple independent variables is established.

Analysis Of Variance

A statistical method used to compare the means of three or more samples to find if at least one differs significantly.