Answer Happy

Balance Sheet accounts
a.accumulate information for only a specific accounting
period.
b.are referred to as temporary accounts.
c.are referred to as permanent accounts.
d."are referred to as temporary accounts" and "accumulate
information for only a specific accounting period"
All income statement accounts are closed.
True
False
The last step of the accounting process would be
a.Prepare an income statement, a statement of owner's equity,
and a balance
sheet.
b.Prepare a trial balance.
c.Prepare a post-closing trial balance.
d.None of these choices are correct.