Assets, liabilities, and the owner's capital account are permanent accounts.
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Q21: The amounts in the financial statements must
Q22: Closing entries are made in the journal
Q24: (Appendix) The three types of business activities
Q26: Assets,liabilities,and the owner's capital account are closed
Q27: The effect of drawing transactions on the
Q28: To close the drawing account with a
Q31: A balance sheet that classifies (or groups)items
Q33: The heading for a balance sheet includes
Q35: Expenses on the income statement could be
Q40: The accuracy of the statement of cash
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