Which of the Following Accounts Is Not a Temporary Account

question 71

Multiple Choice

Which of the following accounts is not a temporary account?

• A)Withdrawals
• B)Fees Earned
• C)Cash
• D)Income Summary

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Definitions:

Economic Growth

The increase in the production of goods and services in an economy over a period of time, typically measured by the rise in GDP.

Technology

Is the practical application of scientific principles.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness.

White Settler Colonization

This refers to the process whereby European or other settlers migrated to and established control over indigenous populations and territories, often leading to profound social, economic, and political changes.