Match each item with the correct statement below. Only the ____ accounts appear on the post-closing trial balance. ____ accounts are used to record information during the fiscal period; their balances are transferred to a permanent account at the end of the accounting period. The ____ is the report prepared at the end of the fiscal period to test the equality of the general ledger after all adjusting and closing entries have been posted. Journal entries that are made to transfer the balances of temporary accounts to a permanent account are called ____. Fill in the blanks with the following: *permanent *temporary *closing entries *post-closing trial balance
Match each item with the correct statement below. Only the ____ accounts appear on the post-closing trial balance. ____ accounts are used to record information during the fiscal period; their balances are transferred to a permanent account at the end of the accounting period. The ____ is the report prepared at the end of the fiscal period to test the equality of the general ledger after all adjusting and closing entries have been posted. Journal entries that are made to transfer the balances of temporary accounts to a permanent account are called ____. Fill in the blanks with the following: *permanent *temporary *closing entries *post-closing trial balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Match each item with the correct statement below.
| Only the ____ accounts appear on the post-closing |
|
| ____ accounts are used to record information during the fiscal period; their balances are transferred to a permanent account at the end of the accounting period. | |
| The ____ is the report prepared at the end of the fiscal period to test the equality of the general ledger after all adjusting and closing entries have been posted. | |
Fill in the blanks with the following:
*permanent
*temporary
*closing
*post-closing trial balance
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