Which of the following accounts is considered a temporary or nominal account?

Financial - Chapter 5

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Other
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University
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Easy
Nguyên Đào
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
Prepaid Insurance
Unearned Service Revenue
Prepaid Advertising
Fees Earned Revenue
2.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
Which of the following accounts is considered a permanent or real account?
Interest Revenue
Prepaid Insurance
Supplies Expense
Insurance Expense
3.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
If a journal entry includes a debit or credit to the Cash account, it is most likely which of the following?
outside of the accounting cycle
an ordinary transaction entry
a closing entry
an adjusting entry
4.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
If a journal entry includes a debit or credit to the Retained Earnings account, it is most likely which of the following?
an ordinary transaction entry
an adjusting entry
a closing entry
outside of the accounting cycle
5.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
Which of these accounts would be present in the closing entries?
Sales Tax Payable
Dividends
Unearned Service Revenue
Accounts Receivable
6.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
Which of these accounts would not be present in the closing entries?
Utilities Expense
Dividends Payable
Fees Earned Revenue
Insurance Expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 20 pts
Which of these accounts is never closed?
Dividends
Retained Earnings
Income Summary
Service Fee Revenue
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