Which of the Following Accounts Will Be Closed by Crediting

question 38

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:

Specialized Units

Distinct segments within an organization or system that focus on particular tasks, functions, or expertise.

Subgroup's Identity

The collective sense of identity shared by members of a subgroup within a larger group, often based on common characteristics or interests.

Collective Efficacy

The shared belief in a group's capacity to organize and execute actions necessary to achieve set goals.

Task Objectives

The specific goals or intended outcomes that are to be achieved through completing a task or project.