The Balance in the Rent Expense Account on the Worksheet

question 84

Multiple Choice

The balance in the Rent Expense account on the worksheet was $120.The journal entry to close the Rent Expense account is:

• A) \(\begin{array}{|l|lcc|}
• \hline \text { Rent Expense}\quad\quad\quad\quad &120 \\
• \hline\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Prepaid Rent} &\quad\quad\quad\quad\quad\quad120\\
• \hline
• \end{array}\)
• B) \(\begin{array}{|l|lcc|}
• \hline \text { Rent Expense}\quad\quad\quad\quad &120 \\
• \hline\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Income Summary } &\quad\quad\quad\quad\quad\quad120\\
• \hline
• \end{array}\)
• C) \[\begin{array} { | r | r | }
• \hline \text { Rent Expense }\quad\quad\quad\quad\quad\quad\quad\quad\quad & 120 \\
• \hline \text { Capital } &\quad\quad\quad\quad 120 \\
• \hline
• \end{array}\]
• D) \(\begin{array}{|l|lcc|}
• \hline \text { Income Summary}\quad\quad\quad\quad &120 \\
• \hline\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Rent Expense} &\quad\quad\quad\quad\quad\quad120\\
• \hline
• \end{array}\)

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Definitions:

Simple Linear Regression

A statistical method that models the relationship between a dependent variable and one independent variable by fitting a linear equation to observed data.

Independent Variables

Variables in an experiment or statistical model that are manipulated or categorized to determine their effect on dependent variables.

Dependent Variables

Variables in an experiment or test that respond to changes in other variables, often measured to assess an effect.

Negatively Linearly Related

Describes the relationship between two variables where an increase in one variable results in a decrease in the other, represented by a negative correlation coefficient.