Which of the Following Accounts Would Be Closed into Income

question 41

Multiple Choice

Which of the following accounts would be closed into Income Summary in the procedure of closing accounts at the end of a fiscal period?

• A) Rent Payable
• B) Cash
• C) Insurance Expense
• D) Accumulated Depreciation

---

Definitions:

Risk-Return Tradeoff

The principle that potential return on investment increases with an increase in risk.

Average Return

The mean amount of profit or loss generated by an investment over a specific period.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in a data set differ from the mean.

Diversification

An investment strategy aimed at reducing risk by allocating investments among various financial instruments, industries, or other categories.