Which of the Following Accounts Should Be Closed Off to the Profit

question 44

Multiple Choice

Which of the following accounts should be closed off to the profit or loss summary account at the end of the financial period?

• A) Insurance expense
• B) Sales income
• C) Depreciation
• D) All of these accounts.

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Definitions:

Chytrid Fungi

A group of primitive aquatic fungi that can cause disease in amphibians, leading to significant population declines and extinctions.

Frog Parasite

An organism that lives in or on frogs, deriving its nutrients at the host's expense, often resulting in disease or discomfort for the frog.

Edible Fruiting

The process or quality of bearing fruits that can be safely and nutritionally consumed by humans and animals.

B. Dendrobatidis

A pathogenic fungus causing the deadly disease chytridiomycosis in amphibians, contributing to declines and extinctions of amphibian populations worldwide.