The yearly accounting period most commonly used is the (). Hints: every first letter should be in lower case.
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Balance sheet accounts are called ____________________ accounts because they carry their balances to the next accounting period, and are not closed as long as the company continues to own the asset, owe the liability and have equity.
The unadjusted trial balance combines the trial balance items with the adjusting entries to determine the adjusted balances.()
Balance sheet accounts are referred to as temporary accounts because their balances are always changing.()
Since the net income increases the owner’s capital, the net income will be shown in the Balance Sheet () column. Hints: fill the blank with the accounting direction and the first letter should be in upper case.