Which of the Following Accounts Will Be Closed by Debiting

question 1

Multiple Choice

Which of the following accounts will be closed by debiting the Income Summary account?

• A) Depreciation Expense
• B) Accounts Payable
• C) Service Revenue
• D) Accumulated Depreciation

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Definitions:

Encapsulated

Surrounded by a protective capsule or layer, often referring to how some bacteria and benign tumors are contained.

Proliferation

Rapid increase or spread of cells or organisms.

Hodgkin Disease

a type of lymphoma characterized by the presence of Reed-Sternberg cells, leading to the enlargement of lymph nodes and affecting the immune system.

Exacerbation

An increase in the severity of a disease or the intensity of its symptoms.