Temporary Accounts Include All of the Following Except

question 174

Multiple Choice

Temporary accounts include all of the following except:

• A) Consulting revenue.
• B) Withdrawals.
• C) Rent expense.
• D) Prepaid rent.
• E) Income Summary.

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Definitions:

Cost-Benefit

An analysis method that compares the anticipated or actual costs of an action to its benefits, aiming to determine its feasibility or value.

Negative Rights Theory

In ethics, the theory that says that rights are human inventions created to escape moral law.

Moral Law

A set of principles and ethical guidelines that are considered to be universally applicable, often tied to religious or philosophical beliefs.

Positive Law

Law officially enacted or adopted by a government, as opposed to natural or moral law.