How do temporary accounts differ from permanent accounts?
A) Only temporary accounts are used in the adjustments at the end of the accounting period.
B) Only permanent accounts are found on the financial statements.
C) Only temporary accounts are closed at the end of the accounting period.
D) Only permanent accounts are transferred to Retained Earnings during the closing
Correct Answer:
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A) are an expense of doing business.
B)
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A)debit to Sales
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