Which of the Following Account Balances Would Be Closed at Year-End

question 119

Multiple Choice

Which of the following account balances would be closed at year-end by crediting the account?

• A)Investment revenue.
• B)Loss on sale of building.
• C)Sales revenue.
• D)Unearned revenues.

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Definitions:

Control Resale

Control resale refers to measures taken by manufacturers or governments to limit or regulate the resale of products to ensure fair pricing, quality control, or restrict the sale of hazardous goods.

Price Discrimination

A pricing strategy where the same product or service is sold at different prices to different customers, based on market segment, purchase volume, or other factors.

Monopoly Markets

Markets in which there is only one supplier of a unique product or service, giving the supplier significant control over price and market conditions.

Perfectly Competitive Markets

Markets where there are many buyers and sellers, all products are identical, and no single buyer or seller can influence the market price.