Which of the Following Account(s) Would Remain Open After Closing

question 98

Multiple Choice

Which of the following account(s) would remain open after closing entries?

• A) Accounts Payable
• B) Equipment
• C) Owner's capital
• D) All of the answers listed

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Definitions:

Freecycling

The practice of giving away unwanted items for free rather than disposing of them, to promote reuse and reduce waste.

TQM (Total Quality Management)

A management approach focused on continuous improvement of all organizational processes, products, and services.

Gemba

A Japanese term meaning "the actual place," often used in business to refer to the place where value is created or where the work is done, stressing the importance of understanding firsthand information.

Transumer

A consumer who prioritizes experiences over possessions and often engages in temporary use or rental of goods rather than ownership.