Which Accounts Should Not Be Closed

question 116

Multiple Choice

Which accounts should not be closed?

• A) Expenses and revenues.
• B) Dividends.
• C) Income summary.
• D) Accumulated depreciation.

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Definitions:

Crisis Situation

An urgent, high-stakes challenge or emergency that demands immediate and strategic response from an organization.

Strategic Planning Principles

Guiding concepts for developing strategies that align with an organization's mission, vision, and goals while being responsive to the external environment.

Assessment Phase

The initial stage in a project or plan where the current situation is analyzed, needs are identified, and objectives are defined to guide future actions.

Implementation

The process of putting plans, strategies, or policies into action to achieve objectives.