This question focuses on the accounting cycle and the accounting model. For each item listed, indicate the best description by entering a capital letter in the space provided.
Description
A. End-of-period entries to transfer balances of temporary accounts to another account.
B. Income statement accounts.
C. Revenues collected but not earned.
D. Revenues minus expenses.
E. An expense incurred but not recorded nor paid.
F. Ending retained earnings.
G. Statement of financial position accounts.
H. Entries at the end of the period necessary to measure income.
Item
____ 1. Accrued expense
____ 2. Temporary accounts
____ 3. Closing entries
____ 4. Permanent accounts
____ 5. Adjusting entries
6. Deferred revenues

Question

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The Answer of This question focuses on the accounting cycle and the accounting model. For each item listed, indicate the best description by entering a capital letter in the space provided.
Description
A. End-of-period entries to transfer balances of temporary accounts to another account.
B. Income statement accounts.
C. Revenues collected but not earned.
D. Revenues minus expenses.
E. An expense incurred but not recorded nor paid.
F. Ending retained earnings.
G. Statement of financial position accounts.
H. Entries at the end of the period necessary to measure income.
Item
____ 1. Accrued expense
____ 2. Temporary accounts
____ 3. Closing entries
____ 4. Permanent accounts
____ 5. Adjusting entries
6. Deferred revenues

This Question Focuses on the Accounting Cycle and the Accounting