Closing the Temporary Accounts at the End of Each Accounting

question 275

Multiple Choice

Closing the temporary accounts at the end of each accounting period does all of the following except:

• A)Serves to transfer the effects of these accounts to the retained earnings account on the balance sheet.
• B)Prepares the dividends account for use in the next period.
• C)Brings the revenue and expense accounts to zero balances.
• D)Has no effect on the retained earnings account.
• E)Causes retained earnings to reflect increases from revenues and decreases from expenses and dividends.

Recognize the double standard of aging and its consequences.

Acknowledge the physical health issues and disparities in middle and later life.

Identify meaningful roles and perceptions of elders in different cultures.

Understand the discriminatory practices based on age in employment and beyond.

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Definitions:

Scarce Resources

Materials, goods, or services that are limited in availability, making them valuable and often leading to competition for their acquisition or use.

Competition

The activity or condition of competing, where entities strive to gain or win something by defeating or establishing superiority over others.

Tolerance Of Ambiguity

The ability of an individual to remain comfortable and positive in situations that are uncertain or unclear.

Structured Knowledge

Organized and systematic information arranged in a way that facilitates learning, understanding, and application.