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:

Consensus

A general agreement among the members of a group or community.

Task Decisions

Decisions that relate specifically to the execution or planning of tasks within an organization or project.

Powerful Stakeholders

Individuals or groups that hold significant influence, resources, or power within or outside an organization, affecting its decisions and actions.

Collective Responsibility

Collective responsibility is the doctrine or principle that each member of a group shares responsibility for the actions or outcomes of the group as a whole, emphasizing mutual accountability.