Which of the Following Accounts Is Not Found in Closing

question 167

Multiple Choice

Which of the following accounts is not found in closing entries?

• A)Accumulated Depreciation-Equipment
• B)Owner's Capital
• C)Income Summary
• D)Withdrawals

---

Definitions:

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, and insurance premiums.

Profit Ratio

A financial metric that measures the amount of profit generated by a business relative to aspects of its operations, such as sales.

Break-even Sales

The amount of revenue required to cover total fixed and variable costs, resulting in a profit of zero.

Unit Selling Price

The price for which a single unit of a product is sold, not including any additional fees or charges.