The closing entry for expense accounts includes a debit to Retained Earnings and a credit to all expense accounts.

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This statement is true. The closing entry for expense accounts involves transferring the balances of all expense accounts to the Retained Earnings account by debiting Retained Earnings and crediting all expense accounts. This is done to close out the temporary accounts for the period and to prepare the accounts for the next accounting period.

The Closing Entry for Expense Accounts Includes a Debit to Retained