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

---

Definitions:

Shareholders Communication

The exchange of information between a corporation and its shareholders, often regarding business performance, strategies, and voting matters.

New Office

The recent establishment or setup of a workspace designed to accommodate employees and work activities.

Memos

Brief messages typically used in a business setting for internal communication.

Workplace Correspondence

Communication that takes place in a professional setting, often involving emails, memos, letters, and reports.