Which of the Following Accounts Will Not Be Closed to Income

question 104

Multiple Choice

Which of the following accounts will not be closed to Income Summary at the end of the fiscal year?

• A) Salaries Expense
• B) Fees Earned
• C) Unearned Rent
• D) Depreciation Expense

---

Definitions:

Industrial Production

The total output of the industrial sector, including manufacturing, mining, and utilities, within an economy.

Economic Indicators

Statistics and data points used to gauge the overall health of the economy.

Increases

Refers to a rise or growth in a particular metric or quantity, such as price, value, or quantity.

Coupon Rate

The annual interest rate paid by a bond relative to its face value, representing the yield an investor expects to earn if the bond is held to maturity.