Asset, liability, and owner's equity accounts are:
A) temporary accounts.
B) short-term accounts.
C) long-term accounts.
D) permanent accounts.
Correct Answer:
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Q44: The profit margin ratio indicates the total
Q45: Gross profit percentage is another name for
Q46: Withdrawals by an owner are found on
Q47: The income statement is important because it:
A)
Q48: The income statement reports:
A) revenues, expenses, and
Q50: A revenue account is referred to as
Q51: A cash account is referred to as
Q52: Expenses are the cost of providing goods
Q53: Revenues come from sales of goods and
Q54: A business made a $500 credit sale
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