Which of the Following Accounts Is Not Closed at the End

question 17

Multiple Choice

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

• A)Sales
• B)Depreciation Expense
• C)Accounts Receivable
• D)Purchases

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Definitions:

Dividends

Payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders.

Revised Act

A legislative act that has been amended or updated from its original version to incorporate changes in law or policy.

Illegal Dividend

A payment made by a corporation to its shareholders that is not allowed by law or its own bylaws, typically because it exceeds the company's current or retained earnings.

Personally Liable

Being directly responsible for fulfilling a financial obligation or settling a debt from personal assets.