1) Nominal (temporary accounts revenge and dividend accounts and are periodically closed 5.88 Points False 2) it is not necessary to post the closing entries to the lediger accounts because new revenue and expense accounts will be opened in the subsequent accounting period 5.88 Points The accrual basis of accounting recognizes reveshen the performance 5.88 Points True Fas 4) Which of the following is a nominal (temporary account 5.88 Points Retained Earnings Salaries and Wages Expense Uneared Service Revenue Inventory 5) An optional step in the accounting ode is the preparation of 5.88 Points adjusting entries a post-closing trial balance closing entries a statement of cash flows 6) Ajoumal entry to record a receipt of rent in advance all include a 5.88 Points debit to Rent Revenue