Question: Choose from the following list of terms phrases to best complete

Choose from the following list of terms/phrases to best complete the statements below.
a. Temporary
b. Permanent
c. One or more
d. One
e. Zero balances
f. Income Summary
1. _________ accounts generally consist of all balance sheet accounts, and these accounts are not closed.
2. Permanent accounts report on activities related to _________ future accounting periods, and they carry their ending balances into the next period.
3. Temporary accounts accumulate data related to _________ accounting period.
4. _________ accounts include all income statement accounts, the withdrawals account, and the Income Summary account.

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  • CreatedApril 23, 2015
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