All of the Following Accounts Are Temporary Accounts Except ________

question 49

Multiple Choice

All of the following accounts are temporary accounts except ________.

• A) Gain on Sale of Equipment
• B) Sales Revenue
• C) Dividends Payable
• D) Interest Expense

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Definitions:

Sequestering Effect

A process in which carbon and other substances are removed from the atmosphere and stored in trees, plants, or the ocean, often discussed in the context of mitigating climate change.

Primacy Effect

The inclination to recall data from the start of a list more accurately than the details following it.

Recency Effect

A memory phenomenon that involves the ability to recall the last items in a series better than those in the middle.

Summary

A brief statement or account of the main points of something.