« previous next »

Author Question: After the temporary accounts are closed, only the real accounts have balances. a. True b. False ... (Read 129 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
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

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 6, 2018
Answer to Question 1

True

Answer to Question 2

unearned revenue, deferred credits


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

The Real Reason Why They Repeat the Same 20 Songs on the Radio & TV Nationwide The Real Reason Why They Repeat the Same 20 Songs on the Radio & TV Nationwide
Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
Open, or compound The fracture projects through the skin and there is a possibility of infection or Open, or compound The fracture projects through the skin and there is a possibility of infection or
True-color image of layers of haze in Titan's atmosphere. True-color image of layers of haze in Titan's atmosphere.
Math Joke: Be Rational, Get Real Math Joke: Be Rational, Get Real
Anterosuperior view of false pelvis (pink) Anterosuperior view of false pelvis (pink)
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library