Which of the Following Accounts Is Not Closed to Income

question 199

Multiple Choice

Which of the following accounts is not closed to Income Summary at the end of the accounting period?

• A)Rent Expense
• B)Service Revenue
• C)Unearned Revenue
• D)Supplies Expense

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Definitions:

Supporting Software

Software applications or platforms that assist in the functioning or enhancement of primary systems or processes.

Infrastructure

The fundamental physical and organizational structures and facilities needed for the operation of a society or enterprise, such as buildings, roads, and power supplies.

Monetization

Monetization is the process of converting something into revenue, such as generating income from a website, application, or digital content through advertisements, subscriptions, or sales.

Social Commerce

The practice of buying and selling goods or services through social media platforms, leveraging user contributions and social interactions.