Which of the Following Accounts Is Not Closed at the End

question 71

Multiple Choice

Which of the following accounts is not closed at the end of the accounting period?

• A)Merchandise Inventory
• B)Purchases
• C)Rent Expense
• D)Sales

---

Definitions:

Direct Labor-Hours

The total hours worked by employees directly involved in manufacturing goods or providing services.

Standard Costs

Pre-determined costs used as a benchmark for evaluating actual production costs within a business.

Raw Material

Basic, unprocessed materials used in the manufacturing process to produce finished goods.

Work in Process

An inventory account that tracks the cost of products that are in production but not yet completed.