Which of the Following Entries Will Be Necessary to Close

question 140

Multiple Choice

Which of the following entries will be necessary to close the Insurance Expense account at the end of the year?

• A) debit Insurance Expense and credit Income Summary
• B) debit Insurance Expense and credit Owner, Capital
• C) debit Owner, Withdrawals and credit Insurance Expense
• D) debit Income Summary and credit Insurance Expense

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Definitions:

Characteristics Of Clients

Refer to the distinguishing traits, features, or attributes that define individuals or groups receiving services from professionals such as social workers or counselors.

Stages Of Change

A model outlining the phases individuals typically go through when modifying behavior, from precontemplation to maintenance.

Initial Discussions

The first conversations or exchanges about a topic or issue, setting the groundwork for future deliberations.

Role Of Toys

The function toys play in the development, learning, or therapeutic processes of children, aiding in cognitive, physical, and emotional growth.