Assets, Liabilities, and Equity Accounts Are Not Closed; These Accounts

question 43

Multiple Choice

Assets, liabilities, and equity accounts are not closed; these accounts are called:

• A) Temporary accounts.
• B) Contra accounts.
• C) Accrued accounts.
• D) Nominal accounts.
• E) Permanent accounts.

---

Definitions:

Pharmaceutical Industry

A sector of the healthcare system that deals with the development, production, and marketing of medications.

Expensive

Having a high price or cost, typically in relation to value or to the financial means of the buyer.

Cocaine

A powerful and illegal stimulant drug derived from the leaves of the coca plant.

Illegal Drugs

Substances whose production, sale, or possession is prohibited by law due to their potential effects on health and society.