Which One of the Following Accounts Is Not Closed at the End

question 1

Multiple Choice

Which one of the following accounts is not closed at the end of an accounting period?

• A) Retained Earnings account
• B) Dividends account
• C) Service Revenue account
• D) Insurance Expense account

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Definitions:

Driving Under the Influence

The crime or offense of operating a vehicle while impaired by alcohol or other drugs to a level that renders the driver incapable of operating a vehicle safely.

Felony

A crime—such as arson, murder, rape, or robbery—that carries the most severe sanctions, usually ranging from one year in a state or federal prison to the forfeiture of one’s life.

Imprisonment

The state of being confined in jail or prison as a legal punishment for crimes committed.

Criminally Liable

Being legally responsible for a crime, with potential for penalties such as fines or imprisonment.