Prince Ltd's Year-End Trial Balance Includes the Following Accounts

question 30

Multiple Choice

Prince Ltd's year-end trial balance includes the following accounts.
I. Cash
II. Sales revenue
III. Accounts receivable
IV. Owner's capital
V. Interest expense
VI. Interest payable
VII. Prepayments
Which of these are temporary accounts?

• A) II, V and VII only
• B) II, and V only
• C) III and VI only
• D) III, VI, and VII only

Explain the importance of scaffolding in supporting learning and development in early childhood.

Understand the concept of marginal benefit and how it influences decision-making.

Apply marginal analysis to various scenarios to determine optimal decision-making.

Comprehend the relationship between marginal cost and marginal benefit in maximizing profit or utility.

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Definitions:

Premium

Premium in finance usually refers to the extra amount paid over the standard or nominal value, as in insurance premium payments or the additional amount to purchase securities.

Discount

A reduction applied to the nominal price of goods, services, or securities, often to incentivize purchase or investment.

Treasury Bond

A long-term, interest-bearing security issued by the U.S. government considered a safe investment with maturity periods typically over 20 years.

Coupon

The periodic interest payment made to bondholders during the life of a bond.