Which of the Following Statements Is Incorrect? 76)

question 26

Multiple Choice

Which of the following statements is incorrect? 76)

• A)The Income Summary account is a temporary account.
• B)Permanent accounts are another name for real accounts.
• C)Permanent accounts are another name for nominal accounts.
• D)Real accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence.
• E)Temporary accounts carry a zero balance at the beginning of each accounting period.

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Definitions:

Dividend Increase

A rise in the amount of money paid to shareholders out of a company's earnings per share.

Annual Dividend

A payment made by a corporation to its shareholders, usually as a distribution of profits on a yearly basis.

Dividends Increase

An action by a company to increase the amount of dividends paid to shareholders, typically signaling confidence in the company's profitability.

Rate of Return

The success or failure of an investment over a determined timeframe, depicted as a percentage of the investment’s original stake.