The Closing Entry for the Salaries Expense Account Would Include

question 86

Multiple Choice

The closing entry for the Salaries Expense account would include a debit to:

• A)Salaries Expense and a credit to Retained Earnings.
• B)Salaries Expense and a credit to Net Income.
• C)Retained Earnings and a credit to Salaries Expense.
• D)Net Income and a credit to Salaries Expense.

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Definitions:

Shopping Addiction

A behavioral disorder characterized by the compulsive desire to shop and buy items, often leading to financial and personal problems.

Exponential Growth

A pattern of growth in which a quantity increases by a consistent percentage over equal time intervals.

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Natural resources that cannot be replenished within a human lifespan, including fossil fuels and minerals.

Natural Gas

A fossil fuel consisting mainly of methane, used as an energy source for heating, electricity generation, and as fuel for vehicles.