Another Name for a Temporary Account Is A(n)

question 64

Multiple Choice

Another name for a temporary account is a(n) :

• A) Real account.
• B) Nominal account.
• C) Contra account.
• D) Balance column account.
• E) Accrued account.

---

Definitions:

Monopolist's Profit

The excess revenue a monopolist earns over its costs, attributable to its ability to set prices above competitive levels due to lack of competition.

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Quantity

The amount or number of a product or service that is available for sale, use, or consumption.

Efficient Joint Production

Efficient joint production occurs when a firm or economy can produce multiple products at the lowest possible cost, maximizing the use of inputs to achieve optimal output levels.