Which of the Following Accounts Will Be Closed to the Retained

question 194

Multiple Choice

Which of the following accounts will be closed to the retained earnings account at the end of the fiscal year?

• A) Rent Expense
• B) Fees Earned
• C) Income Summary
• D) Depreciation Expense

---

Definitions:

Iconic Memory

A form of visual memory lasting only a fraction of a second, part of the sensory memory that briefly holds visual images.

Visual Stimuli

Objects or aspects within the environment that are perceived visually, influencing psychological responses.

Rehearsed

The act of practicing or going over material in preparation for a presentation or performance.

Short-Term Memory

The part of the memory system where information is stored for a short duration, typically seconds to minutes.