Which of the Following Accounts Is Not Closed During the Closing

question 156

Multiple Choice

Which of the following accounts is not closed during the closing procedure?

• A) Income Summary
• B) Revenues Earned
• C) Retained Earnings
• D) Rent Expense

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Definitions:

Relapse

The return to a previous state of illness or problematic behavior after a period of improvement.

Negative Affect

A psychological concept referring to negative emotions and mood states, such as sadness, anxiety, and anger.

Lapse Potential

The likelihood or risk of experiencing a temporary setback or failure in behavior or performance, often used in the context of recovery from addiction.

Oxford Group

A Christian organization and movement that began in the early 20th century, aimed at living by spiritual values and principles, which had a significant influence on the development of Alcoholics Anonymous.