Stacy Is Vigilant in Her Watch for Any Change in Her

question 133

Multiple Choice

Stacy is vigilant in her watch for any change in her baby's breathing.This is an example of _____ attention.

• A)salient
• B)selective
• C)divided
• D)sustained

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Definitions:

Nominal Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts.

Temporary Accounts

Accounts used to track transactions in a single accounting period, which are closed and transferred to permanent accounts at the end of the period.

Income Summary

An account used in the closing process that summarizes the revenue and expenses of an accounting period to determine the net income or loss.

Capital Account

An account showing the net worth of a business at a specific point, calculated as assets minus liabilities and preferred stock.