Which of the Following Accounts Will Be Closed by Debiting

question 2

Multiple Choice

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

• A)Salary expense
• B)Accounts receivable
• C)Service revenue
• D)Drawings

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Definitions:

Customer Feedback

Information provided by clients about their experiences with a product or service, used to improve business offerings.

Performance Opportunity

A situation that offers the chance for a better future if the right steps are taken.

Performance Results

The outcomes or outputs produced by an individual, team, or organization, measured against intended goals or standards.

Effective Control

The process of ensuring that organizational activities are proceeding as planned and correcting any significant deviations.