Which of the statements below describe(s) a temporary account? (Check all that apply.) I A temporary...

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Which of the statements below describe(s) a temporary account? (Check all that apply.) I A temporary account has a balance fo

business accounting

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Answer 1

Answer #1

Solution:

Following statements describes a temporary account

1. A temporary account is closed at the end of an accounting period.

2. A temporary account has a balance for only one period.

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Answer 2

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