Which of the Following Accounts Will Still Show a Balance

question 146

Multiple Choice

Which of the following accounts will still show a balance after the closing process is completed?

• A) Withdrawal account
• B) Expense accounts
• C) Accumulated depreciation account
• D) Service revenue account

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Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given period.

Demand

The quantity of a good or service that consumers are willing and able to purchase at different prices at a given time.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing to offer for sale at each price level.