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.

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Definitions:

Probability

A measure of the likelihood that an event will occur, often quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Liberty

The state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

State

An organized political community living under a government; can also refer to the condition or mode of being.

Individual

A single human being as distinct from a group, class, or family.