Balance Sheet Accounts Are Known As_____________ Accounts Because Their Balance

question 61

Multiple Choice

Balance sheet accounts are known as_____________ accounts because their balance at the end of one accounting period becomes their opening balance at the start of the next period.

• A) open.
• B) long-term.
• C) permanent.
• D) carry forward.

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Definitions:

Expected Return

The anticipated percentage gain or loss that an investor predicts a stock or investment will earn in the future based on historical or calculated projections.

Stock

A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings.

Expected Return

A financial term used to calculate the average amount of profit or loss an investment is predicted to generate.

Economy Booms

A period of rapid economic growth and expansion characterized by high employment, increasing consumer confidence, and elevated business production.