Which of the Following Statements Is Incorrect

question 44

Multiple Choice

Which of the following statements is incorrect?

• A)Permanent account is another name for nominal account.
• B)Temporary accounts carry a zero balance at the beginning of each accounting period.
• C)The Income Summary account is a temporary account.
• D)Real accounts remain open as long as the asset,liability,or equity items recorded in the accounts continue in existence.
• E)The closing process applies only to temporary accounts.

---

Definitions:

Relational Architecture

The design and structure of relationships within an organization, including how individuals and teams interact and collaborate.

Job Design

The process of organizing tasks, duties, and responsibilities into a unit of work to achieve certain objectives.

Implications

Consequences or possible outcomes that logically follow from an action, statement, or decision.

Job Enrichment

The act of enhancing a job to make it more fulfilling, stimulating, and engaging by incorporating additional significant tasks and responsibilities.