Entries required to close the balances of the temporary accounts at the end of the period are called final entries.
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Q24: Accounts reported on the balance sheet that
Q25: Real accounts are not permanent accounts.
Q26: During the closing process, some balance sheet
Q27: The drawing account is a temporary account.
Q28: The accumulated depreciation account is closed to
Q30: Journalizing and posting the adjustments and closing
Q31: Closing entries are entered directly on to
Q32: The balance sheet accounts are referred to
Q33: A post-closing trial balance contains only asset
Q34: The post-closing trial balance will generally have
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