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:

Early Years

The period of human life from birth to childhood, specifically focusing on infancy and early childhood development stages.

Psychology

The scientific study of mind and behavior, including thought processes, emotions, and the functions of the brain.

Observable Behavior

Actions or reactions of an organism or system that can be seen and measured directly, often used in behavioral studies.

Mental Life

encompasses all mental activities, including thoughts, feelings, and perceptions, that constitute the inner experiences of an individual.