Which of the Following Categories of Accounts Are Temporary Accounts

question 29

Multiple Choice

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

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

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Definitions:

Advertising Expenditures

The amount of money spent on promoting products, services, or brands through various media channels.

Price Discrimination

A method of setting prices in which the same provider sells nearly the same goods or services at disparate prices in different markets.

Rationing

A system of controlling the distribution of resources, goods, or services by limiting access to ensure equitable distribution, often implemented during shortages.

Reselling

The act of selling a product or service again, possibly after acquiring, refurbishing, or repackaging it.