Multiple Choice
Which of the following categories of accounts are temporary accounts that are closed at the end of the year?
A) assets,liabilities,and owner's withdrawals
B) revenues,expenses,and owner's withdrawals
C) assets,liabilities,and owner's equity
D) revenues,expenses,and owner's equity
Correct Answer:
Verified
Correct Answer:
Verified
Q24: On December 31,2016,Axle Services Company prepared the
Q26: Liquidity is a measure of how _.<br>A)quickly
Q27: The beginning balance in the Owner,Capital account
Q28: Asset and liability accounts are closed to
Q30: Which of the following entries will be
Q31: The Owner,Capital account is a temporary account.
Q32: A company has $100,000 in current assets;$600,000
Q33: Reversing entries are used in conjunction with
Q34: The Interest Expense in the worksheet's unadjusted
Q154: Buildings,land,and equipment are classified as _.<br>A) current