To Close an Expense Account with a Debit Balance,debit the Account

question 41

True/False

To close an expense account with a debit balance,debit the account for its balance and credit the income summary account.

---

Definitions:

Birth Defects

Physical or biochemical abnormalities that are present at birth and can result in mental or physical disability.

Depression

A common mental health disorder characterized by persistent sadness, lack of interest or pleasure, feelings of guilt or low self-worth, and other symptoms.

Women

Female adults; in the context of health and social sciences, often the subject of specialized studies owing to gender-specific health, social, or psychological issues.

Negative Feelings

Unpleasant emotions such as sadness, anger, and fear that may affect an individual's psychological well-being.