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:

Conditional Formatting Rules Manager

A tool in applications like Excel that allows users to set rules for automatically formatting cells based on the cell's value.

ROUNDUP

In spreadsheet applications, ROUNDUP is a function that rounds a number away from zero, up to a specified number of digits.

AND

A logical operator used in programming and mathematics that results in true only if all the operands are true.

Serial Number

A unique identifier assigned to individual items, often used for tracking and inventory purposes.