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Please help me with these questions! Thanks. Need them now 34) Which of the following statements is incorrect? TS E O The The Income Summary
Please help me with these questions! Thanks. Need them now
34) Which of the following statements is incorrect? TS E O The The Income Summary account is a temporary account. - - Permanent accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence. O Permanent accounts are another name for temporary accounts. O Temporary accounts carry a zero balance at the beginning of each accounting period, O Permanent accounts include assets. 35) After all closing entries are made and posted, the balance in the owners capital account in the ledger will be equal to O The beginning balance in owners capital in the statement of changes in equity The balance of owners' capital on the post-closing trial balance WWW O zero O Profit or loss for the year O The balance of owners' capital on the pre-closing trial balance Step by Step Solution
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