Both income statement and balance sheet accounts are closed at the end of a fiscal period. a. True ...

Author Question: Both income statement and balance sheet accounts are closed at the end of a fiscal period. a. True ... (Read 112 times)

robinn137

Hero Member
Posts: 544

on: Jul 6, 2018

Both income statement and balance sheet accounts are closed at the end of a fiscal period.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A lease affects both the balance sheet and the income statement.

What will be an ideal response?

mjbamaung

Sr. Member
Posts: 343

Reply #1 on: Jul 6, 2018

Answer to Question 1

False

Answer to Question 2

capital

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