Which of the Following Accounts Would Be Closed

question 20

Multiple Choice

Which of the following accounts would be closed?

• A) Accounts Receivable
• B) Accumulated Depreciation
• C) Supplies Expense
• D) Joan Wilson,Capital

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Definitions:

Ceteris Paribus

Ceteris paribus is a Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change in the study of a phenomenon.

Inductive Reasoning

A method of reasoning in which general conclusions are drawn from specific observations or instances, often used in scientific and philosophical contexts.

Single Factor

In economics, a variable or input that is considered in isolation to evaluate its impact on an outcome or process.

Normative Economics

A branch of economics that focuses on what ought to be or what should happen, often involving judgments and prescriptions for economic policy.