Which of the Following Accounts Would Be Closed at the End

question 49

Multiple Choice

Which of the following accounts would be closed at the end of the accounting period?

• A)Merchandise Inventory
• B)Purchases
• C)Prepaid Rent
• D)Accumulated Depreciation

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Definitions:

Prediction

The act of forecasting or projecting future events based on current or past information.

Misery Loves Company

A common phrase indicating that people who are unhappy may get consolation from knowing others are unhappy too.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, often based on limited evidence as a preliminary view.

Variable

An element, feature, or factor that is liable to vary or change; it's a core concept in scientific research and statistical analysis.