After posting adjusting entries, the permanent accounts will be set back to zero.
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Q80: The Income Summary account debited and the
Q81: Nominal accounts are called temporary accounts because
Q82: The balance in Income Summary after posting
Q83: A real account is the same as
Q84: Closing entries will update the Capital account
Q86: The goal of closing is to clear
Q87: Real accounts are those accounts with balances
Q88: Each individual expense account is credited when
Q89: Identify whether the entries below are an
Q90: Identify whether the entries below are an
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