menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting
  4. Exam
    Exam 3: Adjusting and Closing Entries
  5. Question
    Assets, Liabilities and Retained Earnings Are Permanent Accounts That Are
Solved

Assets, Liabilities and Retained Earnings Are Permanent Accounts That Are

Question 57

Question 57

True/False

Assets, Liabilities and Retained Earnings are permanent accounts that are NOT closed at the end of the accounting period.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q52: The unadjusted trial balance for Prepaid Insurance

Q53: Which of the following is a TRUE

Q54: The entry to close the Dividend account

Q55: The adjusted trial balance shows:<br>A)accounts that may

Q56: The majority of businesses normally end their

Q58: All financial statements must have, in order,

Q59: The post-closing trial balance is a listing

Q60: Revenue accounts are closed by crediting them

Q61: Revenues, expenses and Dividends are called permanent

Q62: The recording of depreciation is related to

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines