Which One of the Following Accounts Would NOT Have a Balance

question 13

Multiple Choice

Which one of the following accounts would NOT have a balance after closing entries?

• A)Unearned Revenue.
• B)Supplies.
• C)Prepaid Rent.
• D)Dividends.

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Definitions:

Tax Implications

Tax implications are the effects of financial decisions on the amount of taxes owed, influencing individual or business finances.

Indirect Pay

Compensation that is not paid directly as cash but includes benefits like health insurance, retirement plans, and paid time off.

Health Care Spending Accounts

Accounts that allow employees to set aside pre-tax dollars to pay for eligible health care expenses not covered by their insurance.

Fixed Benefits Plan

A type of employee benefits plan where the benefits provided are predetermined and not based on individual performance or company profitability.