Assets, Liabilities, and Equity Accounts Are Not Closed; These Accounts

question 78

Multiple Choice

Assets, liabilities, and equity accounts are not closed; these accounts are called:

• A) Nominal accounts.
• B) Temporary accounts.
• C) Permanent accounts.
• D) Contra accounts.
• E) Accrued accounts.

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Definitions:

Polycarbonate

A durable, tough type of plastic widely used in manufacturing various products, known for its transparency and high impact resistance.

Polymer

Large molecules composed of repeating structural units (monomers) bonded together, exhibiting a broad range of chemical and physical properties.

Neoprene

A synthetic rubber produced by the polymerization of chloroprene, noted for its chemical stability and used in various products such as wetsuits and hoses.

Addition Polymer

A type of polymer formed by the sequential addition of monomer units with unsaturated bonds, such as olefins, to form long chains without the loss of any small molecules.