Assets, Liabilities, and Equity Accounts Are Not Closed; These Accounts

question 78

Multiple Choice

Assets, liabilities, and equity accounts are not closed; these accounts are called:

• A) Nominal accounts.
• B) Temporary accounts.
• C) Permanent accounts.
• D) Contra accounts.
• E) Accrued accounts.

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Definitions:

Metaphor

A figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable.

Superego

In psychoanalytic theory, the part of the personality that acts as a moral center, guiding behavior by incorporating societal and parental standards.

Personality Structure

The organized pattern of behaviors and attitudes that makes a person distinctive, encompassing traits, temperament, and character.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.