Which of the Following Accounts Are Temporary Accounts That Must

question 23

Multiple Choice

Which of the following accounts are temporary accounts that must be closed at the end of the year?

• A) Assets, liabilities and withdrawals
• B) Revenues, expenses and withdrawals
• C) Assets, liabilities and capital
• D) Revenues, expenses and capital

---

Definitions:

Marketing Claims

Statements made by companies about their products or services intended to attract consumers.

Deceptive Advertising

Marketing practices involving false claims or misleading statements to trick consumers into buying a product or service.

False Statement

Incorrect or untruthful information provided, particularly in a context where honesty is expected or required.

Competitor's Products

Competitor's Products are goods or services offered by businesses operating in the same market space aiming to fulfill similar customer needs or demands as one's own products.