A Variable Declared Within a Statement Block Is Called a ____

question 19

Multiple Choice

A variable declared within a statement block is called a ____.

• A) block-level variable
• B) restricted variable
• C) contained variable
• D) simple variable

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Definitions:

Contra Asset Account

An account that is used to reduce the balance of a related asset account to reflect its adjusted carrying value.

Credit Balance

The amount that a company or individual owes to creditors; in accounting, it indicates a balance on the right side of a ledger for liability, revenue, or equity accounts.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary to permanent accounts.