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

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Definitions:

Rape Kit

A collection of items used by medical professionals to gather and preserve physical evidence following a sexual assault.

Forensic Evidence

Any material or information used in legal proceedings, derived from forensic science techniques, to support the existence or absence of a crime.

Cardiovascular Disease

A class of diseases that involve the heart or blood vessels, such as coronary artery disease, hypertension, and stroke.

Women

Adult human females, often discussed in contexts relating to gender equality, reproductive rights, and health issues specific to female biology.