Which of the Following Account Balances Would Be Closed at Year-End

question 125

Multiple Choice

Which of the following account balances would be closed at year-end?

• A)Interest expense.
• B)Accumulated depreciation.
• C)Retained earnings.
• D)Unearned revenues.

---

Definitions:

Contractual Obligations

Responsibilities that parties are legally bound to perform under a contract.

General Partnership

A business structure where two or more individuals own and operate a business together, sharing profits, losses, and liabilities.

Motion To Compel

A legal request to the court to mandate a party to take a specific action, often related to the disclosure of evidence.

Civil Procedure

The body of law that sets out the rules and standards courts follow when adjudicating civil lawsuits.