The Size or Number of People That Constitute a Group

question 104

Multiple Choice

The size or number of people that constitute a group is

• A) ten or more.
• B) limited to fifteen.
• C) fewer than two people.
• D) limited to ten.
• E) two or more.

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Definitions:

Account Balances

The total amount of money in an account at a certain point in time, which can represent assets or liabilities depending on the account type.

Temporary Accounts

Accounts that are cleared out at the end of each accounting period, including revenues, expenses, and dividends accounts.

Permanent Accounts

Balance sheet accounts that carry their ending balances into the next accounting period, including assets, liabilities, and equity accounts.