Which of the Following Entries Will Be Necessary to Close

question 78

Multiple Choice

Which of the following entries will be necessary to close the appropriate depreciation account at the end of the year?

• A)Debit Depreciation expense and credit Income summary
• B)Debit Accumulated depreciation and credit Income summary
• C)Debit Income summary and credit Depreciation expense
• D)Debit Income summary and credit Accumulated depreciation

Comprehend the impact of meter connection on circuit performance, including the loading effect.

Recognize the importance of resistance, inductance, and capacitance measurements in electrical circuits.

Distinguish between the functionalities of analog and digital meters.

Understand the concept of multirange meters and their application.

---

Definitions:

Stock Options

are financial derivatives that give the holder the right, but not the obligation, to buy or sell stocks at a predetermined price within a specific period.

Unethical Behavior

Actions or practices that violate moral or professional standards of conduct.

Corporation

A legal entity recognized by law as separate from its owners, providing limited liability protection to its shareholders.

Legal Entity

A legal entity refers to any company or organization that has legal rights and obligations, including the ability to enter into contracts, sue, and be sued.