The Closing Entry for an Expense Account Would Consist of A

question 50

Multiple Choice

The closing entry for an expense account would consist of a:

• A)Debit to Income Summary and a credit to the expense account.
• B)Debit to the expense account and a credit to Income Summary.
• C)Credit to Retained Earnings and a debit to the expense account.
• D)Credit to Revenue and a debit to the expense account.

---

Definitions:

Find A Business

The process of identifying and locating a particular company or entrepreneurial opportunity within a specific industry or market.

Material Handling Costs

Expenses associated with the moving, storing, and control of materials in a manufacturing or warehousing environment.

Competitive Advantage

A condition or attribute that allows a company to outperform its competitors, often achieved through offering superior value to customers or operating more efficiently.

Manufacturing Business

An enterprise engaged in the industrial production of goods from raw materials or components, using various processes like assembling, fabricating, or processing.