Revenues, expenses, withdrawals, and Income Summary are called ________ accounts because they are closed at the end of each accounting period.

What will be an ideal response?


temporary

Business

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Which of the following results in a major shift from an old technology to a new technology that usually offers new customer benefits?

A) discontinuous innovation B) disruptive innovation C) continuous innovation D) market penetration E) market development

Business

A best practice is to have an oversight of the internal audit function as a responsibility of which of the following?

a. Management. b. Internal auditors. c. Audit committee. d. External auditors.

Business

What are the basic differences between sales promotion and advertising?

What will be an ideal response?

Business

Merchandise Inventory normally has a debit balance

Indicate whether the statement is true or false

Business