After Closing Off the Accounts, Which of the Following Accounts

question 29

Multiple Choice

After closing off the accounts, which of the following accounts will not appear on the balance sheet?

• A)Cash
• B)Profit and loss
• C)Capital
• D)Equipment

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Definitions:

Specific Task

A particular piece of work or duty that is assigned or expected to be carried out.

Ability

The possession of the skills, talents, or competencies to perform a specific task or set of tasks.

Forethought

Pertains to the mental activity involving planning or thinking ahead before taking action.

Social Learning Theory

A theory that proposes individuals learn new behaviors and acquire new information through observing others in their social environment.