An Account That Is Not Closed at the End of the Period

question 141

Multiple Choice

An account that is not closed at the end of the period is called a(n) ________.

• A)expense account
• B)temporary account
• C)permanent account
• D)revenue account

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Definitions:

Sector X

Sector X does not represent a specific sector in economic terms; it's a placeholder for an unspecified sector of the economy.

Average Cost

The total cost of production divided by the number of goods produced, calculating how much it costs on average to produce each product.

Constant-Cost Industry

An industry where the input prices do not change as the industry's output changes.

DVD Players

Electronic devices designed for the playback of DVDs, allowing the viewing of movies and other digital content stored on DVD format.