What Is the Correct Sequence for Closing the Temporary Accounts

question 53

Multiple Choice

What is the correct sequence for closing the temporary accounts?

• A) revenue accounts,expense accounts,Income Summary,drawing account
• B) expense accounts,revenue accounts,Income Summary,drawing account
• C) revenue accounts,expense accounts,drawing account,Income Summary
• D) drawing account,revenue accounts,expense accounts,Income Summary

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Definitions:

Independent Variable

A variable in a scientific experiment that is manipulated or changed to observe its effect on a dependent variable.

Part-time

Refers to jobs or positions that require fewer hours of work per week than full-time positions.

Dependent Variable

The factor in research that is likely to shift following modifications to the independent variable.

Independent Variable

An independent variable is one that is manipulated or categorised to observe its effect on a dependent variable.