A(n) ______ Provides the Best Possible Answer to the Question

question 3

Multiple Choice

A(n) ______ provides the best possible answer to the question at the time it is posed.

• A)educated guess
• B)hypothesis
• C)proposition
• D)intuitive guess

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Definitions:

Revenue Account

An account in financial accounting used to record income generated by a company's ordinary activities.

Net Income

Represents the total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, closing out the revenue and expense accounts.

Post-closing Trial Balance

A financial statement prepared after all adjusting and closing entries are made, ensuring the total debits equal total credits.