9 Question 7The normal balance of the counter account that is used to close the accounts is in:a.You have no normal balanceb.DebtG.CreditQuestion 8The order of the financial statements is:a.Trial balance,statement ofowner eguityandbalance sheetb.Balance sheet, incomestatementandstatementof owner equityCStatementof owner eguity,balance sheetandincome statementd.Incomestatement statementof ownereguityandbalancesheetQuestion 9The permanent accounts are:a.Assets, expenses and capitalb.Assets, liabilities and equityC.Assets, liabilities, capital and expensesd.Assets, liabilities, equity and income

The major purpose of preparing the final account is to maintain track of all of an organization's…

Answered: Question 9 The permanent accounts are:…

Question 9 The permanent accounts are: a.Assets, expenses and capital b.Assets, liabilities and equity SAssets, liabilities, capital and expenses d.Assets, liabilities, equity and income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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