Asset, liability and owner's capital accounts are called __________________ ________ because they are used for the life of the business to record the effects of its transactions on its balance sheet.
Correct Answer:
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Q1: The income statement's key role is to
Q2: The income statement summarises the results of
Q3: _ _need accounting information that lets them
Q5: Expenses are the costs of providing goods
Q6: _income includes all the revenues earned and
Q7: A quantity discount is a reduction in
Q8: A _ _is a business document listing
Q9: A _ _ system keeps a continuous
Q10: A _ _ system determines the inventory
Q11: _ is equal to net sales minus
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