An expenses account is closed by a debit to?
FINANCIAL
JAMB 2000
An expenses account is closed by a debit to?
- A. an asset account and a credit to the expenses account
- B. the expenses account and a credit to an asset account
- C. profit and loss account and a creit to the expenses account
- D. the expenses account and a credit to profit and loss account
Correct Answer: C. profit and loss account and a creit to the expenses account
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