Which One of the Following Accounts Would Not Be Closed

question 101

Multiple Choice

Which one of the following accounts would not be closed at the end of the accounting year?

• A)Utilities expense.
• B)Sales revenue.
• C)Prepaid rent expense.
• D)Wages expense.

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Definitions:

No-Par Stock

Shares issued without a nominal or face value, where the value is determined by the price investors are willing to pay.

Less-Value Stock

Stock that is currently trading for less than the perceived value of the company, potentially indicating an undervalued investment opportunity.

Profit Allocation

The process of distributing a company's earnings among its shareholders, partners, or other stakeholders according to agreed-upon terms.

Preponderance Of Evidence

A standard of proof in civil cases, requiring that a claim be more likely true than not true.