Which of the Following Accounts Should Not Be Closed to Income

question 114

Multiple Choice

Which of the following accounts should not be closed to Income Summary at the end of the fiscal year?

• A)Salaries Expense
• B)Fees Earned
• C)Utilities Expense
• D)Withdrawals

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Definitions:

Interdependence

A relationship between two or more entities that rely on each other to their mutual benefit or detriment.

Low Self-Esteem

A condition characterized by a lack of confidence and feeling unworthy or incapable, often affecting an individual's behavior and mental health.

Gridlocked Conflict

A situation in which a conflict reaches a stalemate, with neither party willing to compromise or alter their position.

Bias

A preconceived opinion or preference for or against something or someone, which can influence judgment and behavior.