Which of the Following Entries Will Be Necessary to Close

question 151

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

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Definitions:

Test Statistic

A numerical value calculated from a sample data set. It is used in statistical hypothesis testing to determine how extreme the observed data is compared to the null hypothesis.

Standard Error

A statistical measure that quantifies the amount of variability or uncertainty in a sample statistic estimate of a population parameter.

Test Statistic

A calculated value used in statistical testing to determine whether to reject the null hypothesis.

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