What are accounts used to record revenues, expenses, and withdrawals; they are closed at the end of each period.

Select one or more:

a. Long-term accounts

b. Permanent accounts

c. Temporary accounts

d. Single accounts

Which financial statement shows the company's assets equals the company's liabilities and equity.

Select one or more:

a. Statement of Cash Flows

b. Balance Sheet

c. Statement of Owner's Equity

d. Income statement

If revenue is $100,000 and expenses are $25,000, net income is:

Select one or more:

a.$75,000

b.$100,000

c.$125,000

d.$4

Which of the following is a permanent account?

Select one or more:

a. Prepaid Insurance

b. Insurance Expense

c. Owner Withdrawals

d. Service Fees Earned