Home - ACM Assignment ACT200_Spring online 2 X + tal.acm.edu.kw/pluginfile.php/415310/mod_resource/content/0/ACT200_Spring%20online%202_tap%202.pdf + Fit to page Page view Exercise 3. Multiple Choice questions (15 points) 1) The permanent accounts appear on which financial statement? a. Statement of Financial Position. b. Income Statement. C. Retained Earnings Statement. d. Statement of Cash Flows. 2) Closing entries are necessary for a. permanent accounts. b. temporary accounts. c. both permanent and temporary accounts. d. permanent or real accounts only. Bonus question. (10 points) Identify which of the following are temporary accounts of San Juan Company (1) Retained Earnings (2) Dividends (3) Equipment (4) Accumulated Depreciation-Equipment (5) Depreciation Expense Home - ACM Assignment ACT200_Spring online 2 X + tal.acm.edu.kw/pluginfile.php/415310/mod_resource/content/0/ACT200_Spring%20online%202_tap%202.pdf + Fit to page Page view Exercise 3. Multiple Choice questions (15 points) 1) The permanent accounts appear on which financial statement? a. Statement of Financial Position. b. Income Statement. C. Retained Earnings Statement. d. Statement of Cash Flows. 2) Closing entries are necessary for a. permanent accounts. b. temporary accounts. c. both permanent and temporary accounts. d. permanent or real accounts only. Bonus question. (10 points) Identify which of the following are temporary accounts of San Juan Company (1) Retained Earnings (2) Dividends (3) Equipment (4) Accumulated Depreciation-Equipment (5) Depreciation Expense