Income statement accounts are also known as which of the following?
A) Temporary accounts
B) Real accounts
C) Permanent accounts
D) Asset accounts
A
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To prepare the statement of cash flows requires analyzing changes in balance sheet accounts during the accounting period. As an outcome of correct double-entry recording of all transactions, the net change in cash will equal the net change in all noncash accounts
Indicate whether the statement is true or false
Which of the following would most likely not be expensed using the straight-line method?
A. A timber reserve B. A patent C. A building D. A copyright
About what percentage of GDP do the developed economies of the U.S. and Europe spend on logistics-related costs?
A. 9 to 15 percent B. 1 to 2 percent C. 5 to 7 percent D. 30 to 35 percent E. 20 to 25 percent
________ are defined benefit plans that look like a defined contribution plan.
A. Qualified deferred compensation plans B. Profit-sharing plans C. Employee stock ownership plans D. Cash balance plans