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Question 7 (2 points) Saved Some of the accounts on the Income Statement are permanent accounts. a) True b) False Question 8 (2 points) Saved

Question 7 (2 points) Saved Some of the accounts on the Income Statement are permanent accounts. a) True b) False Question 8 (2 points) Saved The balance sheet does not contain any temporary accounts. a) True bi False Question 9 12 points) Saved income Summary has a debit balance, then the firm had a net loss. a) True D False . B

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