Neutral Fats Are

question 46

Multiple Choice

Neutral fats are

• A)stored as glycogen.
• B)not stored.
• C)made of fatty acids and glycerol.
• D)made of chains of fatty acids linked together by water molecules.

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Definitions:

Income Statement

A financial statement that shows a company’s revenues, expenses, and profits or losses over a specific period of time.

Income Summary

An account used in the closing process that summarizes revenues and expenses, transferring the net income or loss to retained earnings.

Closing Process

A sequence of steps performed at the end of an accounting period to prepare the accounts for the next period, including closing temporary accounts such as income summary, revenues, and expenses.

Temporary Account

Accounts that are closed at the end of each accounting period, including revenues, expenses, and withdrawals.