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:

Land Resources

Natural assets in the form of land, including both the physical ground itself and the resources contained within it.

Park Managers

Individuals responsible for overseeing the operations and maintenance of parks, ensuring they are safe, accessible, and enjoyable for the public.

Congressional Desires

Preferences or goals of members within the United States Congress, often reflecting their constituents' interests or policy objectives.

Oligopolistic Industry

An industry dominated by a small number of large firms, each of which can influence the market price and strategy, leading to competitive yet interdependent market conditions.