true or false

6. Net sales plus sales returns and allowances and sales discounts equal gross sales 7. Short-term assets and short-term liabilities are temporary accounts 8. Under the perpetual inventory procedure, cost of goods sold is usually calculated at the end of the period 9 If the Income Summary account has a debit balance before it is closed, the company has a net loss for the period. 10. Revenue and expense accounts plus the income summary and dividend accounts are often called permanent accounts