Which of the Following Financial Statement Elements Is Closed at the End

question 8

Multiple Choice

Which of the following financial statement elements is closed at the end of an accounting cycle?

• A) Liabilities
• B) Equity
• C) Revenues
• D) Assets

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Definitions:

Southwestern Africa

A region in Africa that includes countries like Namibia and Angola, characterized by diverse ecologies and cultures.

Pinus

A genus of trees in the pine family, known for having needle-like leaves and producing cones.

Conifers

A group of cone-bearing plants that are mostly evergreens and include pines, firs, and spruces.

Sepal

One of the outermost parts of a flower, usually leaflike in appearance, that protects the flower as a bud.