Which of These Statements Is Not True

question 65

Multiple Choice

Which of these statements is not true?

• A)Asset,liability,and stockholders' equity accounts are referred to as permanent accounts.
• B)Revenue,expense,and dividend accounts are described as temporary accounts.
• C)Temporary accounts are closed at the end of the period to retained earnings.
• D)The balance sheet will not balance until the temporary accounts are closed to retained earnings.
• E)With double-entry,each transaction is recorded twice.

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Definitions:

Ribose Groups

Components of RNA molecules consisting of five-carbon sugars connected to the nucleobases and phosphate groups.

Polysaccharide

A complex carbohydrate composed of a long chain of monosaccharide units bonded together, serving various functions including energy storage and structural roles.

Nucleotide

A molecule consisting of one or more phosphate groups, a 5-carbon sugar (ribose or deoxyribose), and a nitrogenous base (purine or pyrimidine).

ATP

See adenosine triphosphate.