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.

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Definitions:

Birth

The process of coming into life or entering the world, typically referring to the moment when a baby is born.

Infancy

The period of childhood that begins at birth and lasts to about 18-24 months, characterized by rapid physical growth and cognitive development.

Period Of The Embryo

Lasting from the fourth through the eighth week of gestation, the time that most of the body’s organ systems and structures are forming.

Full Term

Refers to a pregnancy that reaches completion, typically around 39 to 40 weeks, leading to the birth of a baby.