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:

Correlate

To have a mutual relationship or connection, in which one thing affects or depends on another.

Openness

Refers to the trait of being open to new experiences, ideas, and changes in one's environment.

Active Imagination

A technique in analytical psychology where individuals engage with their unconscious mind through imagination.

Intellectual Curiosity

The desire to learn, understand, and explore intellectual content and concepts beyond what is required or immediately necessary.