Which of the Following Accounts Would Be Closed at the End

question 121

Multiple Choice

Which of the following accounts would be closed at the end of the accounting period with a debit?

• A)Sales Discounts.
• B)Sales Returns and Allowances.
• C)Cost of Goods Sold.
• D)Operating Expenses.
• E)Sales.

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Definitions:

Online Customers

Individuals who purchase goods or services over the internet.

Mass Customization

A strategy that combines mass production techniques with customized outputs, allowing for products to be personalized to individual customer specifications at a large scale.

Build-To-Order Manufacturing

A production approach where goods are made only after receiving a customer's order, allowing for high customization but requiring sophisticated planning and operational efficiency.

Environmentally Conscious Materials

Materials chosen and used with consideration for their environmental impact, promoting sustainability and reducing ecological harm.