Which of the Following Entries Will Be Necessary to Close

question 123

Multiple Choice

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

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

---

Definitions:

Delimited Text File

A text file where each data field is separated by a specific character, such as a comma or tab, to organize data into columns.

CSV File

A "Comma-Separated Values" file format that allows data to be saved in a tabular format, easily read by spreadsheet, database, and many other types of software.

Record

Refers to a single, complete unit of information in a dataset or database, akin to an entry that holds relevant data fields.

CSV Text File

A Comma-Separated Values file that stores tabular data in plain text format, making it easy to import and export data from databases and spreadsheets.