Which of the Following Entries Will Be Necessary to Close

question 75

Multiple Choice

Which of the following entries will be necessary to close the Insurance Expense account at the end of the year?

• A)Debit Insurance Expense and credit Income Summary
• B)Debit Insurance Expense and credit Owner's Name, Capital
• C)Debit Owner's Name, Capital and credit Insurance Expense
• D)Debit Income Summary and credit Insurance Expense

Acknowledge the visual design principles that contribute to the perceived intelligence of the writer and readability of documents.

Distinguish between effective and ineffective practices in typing and formatting business messages.

Evaluate the success of communication through feedback and understand the role of proofreading in ensuring accurate and error-free messages.

Differentiate between editing and proofreading and understand the limitations of electronic grammar and spell checkers.

---

Definitions:

Distortions and Inaccuracies

Misrepresentations or errors in information or data, leading to misleading conclusions or perceptions.

In-basket Exercises

A type of assessment tool used in employee selection processes, simulating real-life challenges that the candidate might face on the job.

Leaderless Group Discussion

A group assessment technique used in the selection process where candidates are observed on their interaction, participation, and leadership in an unstructured discussion without a designated leader.

Managerial Selection

The process of identifying, evaluating, and choosing the most suitable candidates for management positions within an organization.