90

88) Which statement is true? A) All Balance Sheet accounts are Temporary All Balance Sheet accounts are Permanent Some Balance Sheet accounts are Temporary and some are Permanent 89) Which of the following are made BYRORE une following are made BPRORE we start preparing the finapcial statements? A) Closing Entries Adjusting Entries (C) Transaction Entries 90) Allowance for Bad Debts is what kind of account? A) Expense B) Contra-Expense C) Asset D) Contra-Asset 91) We always sell pens at $8. We sold a pen for $7 because it was damaged. Record the sale at A) It depends B $7 C) $8 92) Which of the following accounts would normally have a credit balance? A) Salaries Payable, Deferred Revenue, Delivery Expense. B) Accounts Payable, Service Revenue, Common Stock. C) Cash, Repairs and Maintenance Expense, Dividends. D) Income Tax Payable, Service Revenue, Dividends. erested in which of these entries? (This question may have multiple 93) Investors and Creditors are interested in which of these entries. This B) Closing Entries Adjusting Entries answers) Transaction Entries mal entry with only two lines, the following entry is valid: vace in another Expense