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

question 121

Multiple Choice

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

• A) Investment revenue.
• B) Loss on sale of building.
• C)Sales revenues.
• D)Unearned revenues.

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Definitions:

Life Insurance Industry

The sector of finance that deals with products and services designed to provide financial security in the event of death or other contingencies.

Sales Territory

A specific geographic area or group of customers assigned to a salesperson or team for purposes of marketing, sales, and service.

Sales Call Allocation

The distribution or assignment of sales efforts and resources among different tasks, territories, or potential clients to maximize efficiency and outcomes.

Territory Management

The strategic planning and execution of sales efforts within a specified geographic area.