An expenses account is closed by a debit to?

Accounts - Principles of Accounts JAMB 2000

An expenses account is closed by a debit to?

  • an asset account and a credit to the expenses account
  • the expenses account and a credit to an asset account
  • profit and loss account and a creit to the expenses account checkmark
  • the expenses account and a credit to profit and loss account

The correct answer is: C

Explanation

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