Which of the Following Account's Balance Is Carried Forward to the Next

question 201

Multiple Choice

Which of the following account's balance is carried forward to the next accounting period?

• A) Accumulated Depreciation
• B) Depreciation Expense
• C) Owner, Withdrawals
• D) Service Revenue

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Definitions:

Financing Statement

A document filed to give public notice that a lender has a security interest in the collateral offered by a borrower.

Security Interest

A legal claim or lien on collateral that has been pledged, usually to secure repayment of a debt or performance of some other obligation.

Priority

The status of being regarded or treated as more important than other matters.

Purchase Money Security Interest

A security interest that is (1) taken or retained by the seller of collateral to secure all or part of its purchase price or (2) taken by a debtor to acquire rights in or the use of the collateral if the value is so used.