The Closing Entry for the Salaries Expense Account Would Include

question 86

Multiple Choice

The closing entry for the Salaries Expense account would include a debit to:

• A)Salaries Expense and a credit to Retained Earnings.
• B)Salaries Expense and a credit to Net Income.
• C)Retained Earnings and a credit to Salaries Expense.
• D)Net Income and a credit to Salaries Expense.

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Definitions:

Y-Intercept

The point where a line crosses the Y-axis of a graph, representing the value of y when x is zero.

Regression Line

A straight line that best fits the data points on a scatter plot, showing the relationship between the independent and dependent variables.

Annual Rainfall

The total amount of precipitation, measured in units of length, that falls in a specific area over the course of one year.

Shoreline Erosion

The process by which coastal land is worn away by natural forces such as wave action, currents, or tidal movements.