Which of the Following Accounts Are Closed to the Owner's

question 91

Multiple Choice

Which of the following accounts are closed to the owner's capital account?

• A)liabilities and assets
• B)the owner's withdrawals account and liabilities
• C)income summary and the owner's withdrawals account
• D)revenues, expenses, and liabilities

---

Definitions:

Barriers

Obstacles that prevent movement, access, or progress.

Communication

The process of exchanging information, ideas, thoughts, feelings, and messages between individuals or groups.

Information Processing

The methods by which individuals perceive, analyze, manipulate, store, and recall information in their brain.

Questions

Inquiries or prompts that seek information, clarification, or exploration of topics, ideas, or problems.