Which of the Following Accounts Will Still Show a Balance

question 54

Multiple Choice

Which of the following accounts will still show a balance after the closing process is completed?

• A)Service revenue account
• B)Drawings account
• C)Expense accounts
• D)Accumulated depreciation account

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Definitions:

Remoteness Test

Determining whether the damages were too far removed from the original negligent act; a breaching party is only responsible for reasonably expected losses.

Misfeasance

Wrongful conduct.

Nonfeasance

Failure to act; such failure is actionable in tort only where there is a specific duty to act, as with a guardian, parent, or lifeguard.

Legal Causation

The process of determining whether a defendant's actions are legally sufficient to be considered as causing the plaintiff's injuries or damages.