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Facebook, Incorporated, which also owns Instagram, Messenger, WhatsApp, and Oculus (virtual reality products), generates substantially all of our revenue from selling advertising placements to marketers.
Facebook, Incorporated, which also owns Instagram, Messenger, WhatsApp, and Oculus (virtual reality products), generates "substantially all of our revenue from selling advertising placements to marketers." Following is a trial balance listing accounts that Facebook uses. Assume that the balances are unadjusted at the end of a recent fiscal year ended December 31. Required: 2. Which accounts should be closed at the end of the year? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. Revenue Interest and other income ? Research and development expense ? General and administrative expense
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