Income Statement Accounts Are Also Known as Which of the Following

question 28

Multiple Choice

Income statement accounts are also known as which of the following?

• A) Nominal accounts
• B) Real accounts
• C) Closing accounts
• D) Both a and c

---

Definitions:

Self-absorbed

Characteristic of an individual who is overly focused on themselves, their interests, and their needs, often at the expense of others.

Marathon

A long-distance running race, officially 42.195 kilometers (26.219 miles), requiring endurance and stamina.

Endeavor

A determined attempt or effort to achieve something.

Socialization Process

The ongoing experience through which individuals learn and internalize the values, behaviors, and norms of their society or social group.