D is corrent. When closing its books for the fiscal year-end, Moon City should close all temporary accounts and not balance sheet accounts. This answer, Expenditures, is a temporary account. Balance sheet accounts include Cash Investments, Payables, Fund Balances and Fund Balances Reserved for Encumbrances.
A is incorrect. This account is not closed.
A is incorrect. This account is not closed.
A is incorrect. This account is not closed.
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