Question 34 (2 points) What kind of account is Supplies Used An inventory account A liability account An expense account O A reversing account Question 38 (2 points) Which of the following accounts should NOT be closed out at the end of the period? Supplies Used Up Supplies on Hand Depreciation Expense Cost of Goods Sold Question 39 (2 points) Which of the following transactions would be reported as an "OTHER COMPREHENSIVE INCOME" item? O A gain from selling an investment for $50,000 more than cost O An increase in the market value of a piece of land compared to the original cost A decline in the value of your overseas investment due to changes in foreign currency rates A loss from disposing of a whole segment of your business