Research Indicates That Remarried People

question 207

Multiple Choice

Research indicates that remarried people:

• A) are unlikely to divorce.
• B) report more happiness than do people in first marriages.
• C) have a greater chance of divorce than do people in first marriages.
• D) are worse off financially than when they lived alone.

---

Definitions:

Closing Process

The procedure in accounting that involves the transfer of all income and expense account balances to the retained earnings to prepare the ledger for the next accounting period.

Real Accounts

Accounts that relate to assets, liabilities, and equity, which are not closed at the end of the accounting period and carry their balances into future periods.

Permanent Accounts

Accounts that carry their balances over into the next accounting period, such as assets, liabilities, and equity accounts.

End-of-period Spreadsheet

A tool used in accounting to compile all financial information before closing the books at the end of a reporting period.