Which of the Following Accounts Should Be Closed to the Capital

question 146

Multiple Choice

Which of the following accounts should be closed to the capital account at the end of the year?

• A) Service Revenue
• B) Equipment
• C) Prepaid Insurance
• D) Unearned Rent

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Definitions:

Mental Processes

Internal, covert activities of our minds, such as thinking, feeling, and problem-solving.

Real-World Counterparts

Objects, situations, or phenomena in the actual world that correspond to concepts, models, or examples in theoretical or simulated scenarios.

Mental Images

Visual representations in the mind's eye that are used in memory, creative visualization, and problem-solving.

Spatial Equivalence

The conceptual or practical similarity in the spatial arrangement or dimensionality between two or more structures or processes.