Which of the Following Accounts Would Not Be Included in the Closing

question 34

Multiple Choice

Which of the following accounts would not be included in the closing process at year-end?

• A)Rent expense.
• B)Sales revenue.
• C)Additional paid-in capital.
• D)Cost of goods solD.Income statement accounts are closed.Balance sheet accounts remain open.Additional paid-in capital is a balance sheet account.

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Definitions:

Intelligence

The ability to solve problems and to adapt to and learn from experiences.

Indirect Means

Pertains to methods or approaches that are not straightforward or direct in achieving a goal or effecting outcomes, often involving secondary or less obvious pathways.

Mental Age

A measure of an individual's mental attainment based on the age at which it is normal for an individual to reach that level of mental capacity.

Developmental Level

A measure of an individual's growth or advancement in physical, cognitive, social, or emotional areas relative to age or stage expectations.