Which of the Following Are Temporary Accounts That Are Closed

question 82

Multiple Choice

Which of the following are temporary accounts that are closed at the end of the year?

• A) assets, liabilities, and Owner, Withdrawals
• B) revenues, expenses, and Owner, Withdrawals
• C) assets, liabilities, and owner's equity
• D) revenues, expenses, and owner's equity

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Definitions:

Financial Success

The achievement of financial objectives and stability, often measured by profitability, growth, and value generation.

IPO

Initial Public Offering, the process by which a private company goes public by offering its stocks to the public for the first time.

Aided Recall Test

A performance metric in which respondents are asked to recall advertisements based on clues they receive to help stimulate their memory.

Unaided Recall Test

A measure of memory in which participants are asked to remember information without being given cues or hints.