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

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Definitions:

Extrasensory Perception

The claimed ability to obtain information without using the known five senses; also known as ESP or sixth sense.

Replicable

Characteristics of a study or experiment that allow it to be duplicated or repeated by other researchers to verify findings.

Inert Pill

A pill that contains no active ingredients, often used in medical studies as a control to test the effectiveness of treatments.

Statistically Significant

A term indicating that the result of a study or experiment is unlikely to have occurred by chance alone, suggesting a real effect or difference.