Which of the following statements are true?
a. Balance sheet accounts are temporary accounts and do retain their balances from one period to the next.
b. Balance sheet accounts are permanent accounts and do not retain their balances from one period to the next.
c. Income statement accounts are temporary accounts and do not retain their balances from one period to the next.
d. Income statement accounts are permanent accounts and do retain their balances from one period to the next.
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Which of the following statements are true?
a. Balance sheet accounts are temporary accounts and d...
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