Which of the Following Is a Temporary Account

question 83

Multiple Choice

Which of the following is a temporary account?

• A)Advertising expense
• B)Land
• C)Building
• D)Accounts payable
• E)Bonds payable

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Definitions:

Equal Protection Standard

The Equal Protection Standard is a constitutional principle that requires states to treat all individuals within its jurisdiction equally under the law, particularly in terms of the administration of justice and legislative actions.

Rational Basis Test

A standard of review used by courts to evaluate laws and governmental actions to ensure they are reasonably related to a legitimate government interest.

Due Process

A constitutional principle that ensures the government respects all legal rights owed to a person according to the law, including fair treatment through the normal judicial system.

Federal Preemption

A legal doctrine that allows federal law to take precedence over state laws in certain areas, preventing states from enacting conflicting legislation.