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Author Question: After the temporary accounts are closed, only the real accounts have balances. a. True b. False ... (Read 85 times)

Mr. Wonderful

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on: Jul 6, 2018
After the temporary accounts are closed, only the real accounts have balances.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Companies that are paid in advance for services or products record a liability on the receipt of cash in an account titled or .
 
  What will be an ideal response?


nanny

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Reply #1 on: Jul 6, 2018
Answer to Question 1

True

Answer to Question 2

unearned revenue, deferred credits


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