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

Recognize the role of medical assistants in coordinating physical therapy sessions.

Learn to measure and assess range of motion using specific tools.

Understand the safety measures in applying heat treatments.

Acquire knowledge on dry heat treatment and its therapeutic effect.

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Definitions:

Fixed Costs

Costs that do not fluctuate with the level of production or sales within a certain range, such as rent, salaries, and insurance premiums.

Variable Cost Per Unit

The cost associated with producing one additional unit of product or service, which varies depending on the level of production or service delivery.

Selling Price Per Unit

The amount at which a single unit of product is offered for sale to customers.

Contribution Margin

The amount by which a product's sales exceed its variable costs; used to cover fixed costs and contribute to profit.