Which of the Following Entries Is Necessary to Close the Appropriate

question 52

Multiple Choice

Which of the following entries is necessary to close the appropriate depreciation account at the end of the year?

• A) debit Accumulated Depreciation and credit Income Summary
• B) debit Depreciation Expense and credit Income Summary
• C) debit Income Summary and credit Accumulated Depreciation
• D) debit Income Summary and credit Depreciation Expense

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Definitions:

Undue Pressure

Excessive stress or persuasion exerted on someone to make them act in a certain way, often leading to discomfort or ethical dilemmas.

Threats

Potential dangers or harms that could negatively affect an individual, organization, or system.

Warnings

Alerts or cautions given to advise someone of potential danger, mistakes, or undesirable outcomes.

Power

The potential or ability to influence decisions and control resources.