Closing the Temporary Accounts at the End of Each Accounting

question 7

Multiple Choice

Closing the temporary accounts at the end of each accounting period does all of the following except:

• A) Serves to transfer the effects of these accounts to the owner's capital account on the balance sheet.
• B) Prepares the withdrawals account for use in the next period.
• C) Causes owner's capital to reflect increases from revenues and decreases from expenses and withdrawals.
• D) Brings the revenue and expense accounts to zero balances.
• E) Has no effect on the owner's capital account.

---

Definitions:

Cytoplasm

The gel-like substance inside a cell that surrounds the nucleus and is where most cellular activities occur.

Substantia Nigra

A region of the brain that plays an important role in reward, addiction, and movement; known for its high concentration of dopamine-producing neurons.

Red Nucleus

A structure in the brainstem involved in motor coordination and the control of limb movements.

Globus Pallidus

A subcortical structure of the brain involved in the regulation of voluntary movement.