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Which of the following statements is correct? Permanent accounts include assets, liabilities and owner's withdrawals Permanent accounts remain open until the closing processing is completed

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Which of the following statements is correct? Permanent accounts include assets, liabilities and owner's withdrawals Permanent accounts remain open until the closing processing is completed The temporary account owner's capital carries a zero balance at the beginning of each accounting period A net loss can be shown in the income summary account before the account is closed Temporary accounts with only credit balances are closed out to the Income Summary account

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