Which of the Following Accounts Will NOT Be Involved in Closing

question 119

Multiple Choice

Which of the following accounts will NOT be involved in closing entries?

• A)Prepaid Insurance.
• B)Service Revenue.
• C)Utilities Expense.
• D)Retained Earnings.

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Definitions:

Schedule Clear

Ensuring that a calendar or timetable is free of conflicts or commitments, often to make room for important tasks or events.

Mind Map

A diagram used to visually organize information, typically built around a single concept, with associated ideas, tasks, or other items linked to and arranged around it.

Note Taking System

A systematic approach to recording information from various sources efficiently, aiding in learning and information retention.

Cornell System

A note-taking system devised at Cornell University, designed to efficiently organize notes without labor-intensive recopying.