1. Temporary accounts accumulate data related to ________ accounting period. 2. Permanent accounts...
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Accounting
Temporary accounts accumulate data related to accounting period. Permanent accounts report on activities related to future accounting periods, and they carry their ending balances into the next period. accounts include all income statement accounts, the withdrawals account, and the Income Summary account. accounts generally consist of all balance sheet accounts, and these accounts are not closed.
Temporary accounts accumulate data related to accounting period.
Permanent accounts report on activities related to future accounting periods, and they carry their ending balances into the next period.
accounts include all income statement accounts, the withdrawals account, and the Income Summary account.
accounts generally consist of all balance sheet accounts, and these accounts are not closed.
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