The Entry to Close Expense Account(s)includes A

question 60

Multiple Choice

The entry to close expense account(s) includes a:

• A)debit to the expense accounts.
• B)credit to the expense accounts.
• C)credit to Retained Earnings.
• D)debit to Dividends.

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Definitions:

Supply Chain Focus

The central attention or concentration on the management of the flow of goods and services, including all processes that transform raw materials into final products.

Profit Center

A distinct segment of a business that is responsible for generating its own revenue and profit, enabling better tracking of financial performance.

Value-Adding Activity

Any action or process that increases the worth of a product or service to customers, making it more desirable or enhancing its quality.