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:

Postdecisional Dissonance

A psychological phenomenon where after making a decision, an individual experiences stress or regret, questioning if the right choice was made.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Betting

The action of gambling money on the outcome of a race, game, or other unpredictable events.

Central Route

A method of persuasion that involves deeply processing the content of a message, focusing on the arguments and evidence presented.