Closing Entries Never Involve Posting a Credit to The

question 109

Multiple Choice

Closing entries never involve posting a credit to the:

• A)Income Summary account.
• B)Accumulated Depreciation account.
• C)Dividends account.
• D)Depreciation Expense account.

---

Definitions:

Controlling

The process of monitoring performance, comparing it with goals and standards, and taking corrective action when necessary.

Improving

is the process of making something better or more effective through changes or adjustments.

Planning Process

A systematic approach to defining goals, developing strategies, and outlining tasks and schedules to achieve the desired outcomes.

Objectives And Goals

Specific, measurable, achievable, relevant, and time-bound targets set by an individual or organization aimed at achieving a desired outcome.