The Entry to Close the Accumulated Depreciation Account May Include

question 18

Multiple Choice

The entry to close the Accumulated Depreciation account may include a debit to

• A) the Income Summary account and a credit to the Accumulated Depreciation account.
• B) the Depreciation Expense account and a credit to the Accumulated Depreciation account.
• C) the Accumulated Depreciation account and a credit to the Income Summary account.
• D) none of the above.

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Definitions:

Service Light

An indicator light found on vehicle dashboards that illuminates to alert the driver of the need for maintenance or service.

Gear Oil

A lubricant specifically formulated for transmissions, differentials, and transaxles in vehicles and machinery to protect against wear and tear.

Eaton

A multinational power management company known for its products in electrical components and systems for power quality, distribution, and control.

Transmission Control System

A system in vehicles that uses electronic sensors, processors, and actuators to control gear shifts and optimize engine performance.