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:

Strong Work Group

A strong work group is characterized by its cohesive teamwork, high levels of collaboration, and strong performance.

Ethical Standards

Guidelines or principles that govern acceptable behavior and decision-making, based on moral values and societal norms.

Working Conditions

The environment and all existing circumstances affecting labor in the workplace, including job hours, physical aspects, legal rights and responsibilities.

Forced Labour

Work that individuals are compelled to do against their will under threat of punishment or some form of penalty.