Which of the Following Accounts Will Have a Remaining Balance

question 63

Multiple Choice

Which of the following accounts will have a remaining balance after the closing process is completed?

• A) Income from Services
• B) Rent Expense
• C) Owner's Drawing
• D) Owner's Capital
• E) Depreciation Expense

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Definitions:

Public Transit

A system of various transport modes such as buses and trains operated by a city or region to provide a shared travel service to the public.

Labour Cost

The total amount of money that businesses have to pay to their employees, encompassing wages, benefits, and taxes.

Sensitivity

The degree to which the output of a model or system reacts to changes in input parameters or assumptions.

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.