Revenues and expenses are temporary accounts.
Answer the following statement true (T) or false (F)
True
Revenues and expenses, along with dividends, are temporary accounts.
You might also like to view...
Which path-goal leadership style is most appropriate when subordinates want authoritarian leadership, have an external locus of control, and low ability?
a. directive b. achievement-oriented c. participative d. supportive
Grouping employees into a team structure guarantees that employees will automatically function as a team
Indicate whether the statement is true or false
an organizations focus is on innovation, creativity, and flexibility and take high risks in order to accelerate growth and gain competitive advantage, then they are persuing which organizational strategy?
a. Defender b. Reactor c. Prospector d. Analyzer
The RUPA treats a partnership as a legal entity in all but which of the following respects?
A) Title to partnership property B) Continuity of existence C) Legal actions by and against the partnership D) Unlimited liability for partnership obligations