QUESTION 34

Are revenue, expense, and withdrawal accounts temporary or permanent accounts?

QUESTION 35

Are cash, equipment, accounts payable, and capital accounts temporary or permanent accounts? QUESTION

36

The General ___________ is a diary of each specific account from under each component of the accounting equation.

QUESTION 37

What are the three reports within the Accounting Worksheet?

QUESTION 38

What is the report called which is the preliminary to the Income Statement and Balance Sheet (it’s contained in the Accounting Worksheet).

QUESTION 39

What account are the temporary accounts closed out to before everything is taken to Retained Earnings?

QUESTION 40

What is the most fundamental lesson in which the accounting profession is built off of?

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