Which of the Following Entries Will Be Necessary to Close

question 30

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,Capital and credit Insurance Expense
• D)debit Income Summary and credit Insurance Expense

---

Definitions:

Non-Western Cultures

Cultures that originate outside the Western world, encompassing a diverse range of traditions, values, and practices.

Intersex Society

A term that may not represent a coherent societal group but pertains to individuals with physical sex characteristics that do not fit typical binary notions of male or female bodies.

Ambiguously Sexed

Describing individuals whose physical sex characteristics do not clearly align with typical definitions of male or female.

Genitals

The external and internal organs of reproduction, responsible for sexual function and reproduction in humans and animals.