The Accumulated Depreciation Account Is Closed to the Income Summary

question 166

True/False

The accumulated depreciation account is closed to the income summary account.

---

Definitions:

Autoreply

An automated response generated by email systems or messaging platforms to acknowledge the receipt of a message.

Email

A method of exchanging digital messages over the Internet using specific protocols, typically consisting of a sender, recipient, subject, and message body.

Annual Report

A comprehensive report on a company's activities and financial performance throughout the preceding year, presented to shareholders and other stakeholders.

Community Service

Volunteer work performed for the benefit of the community or its institutions.