Chapter 4, Problem 5QS

Choose from the following list of terms/phrases to best complete the statements below.

1. a. Temporary
2. b. Permanent
3. c. One or more
4. d. One
5. e. Zero balances
6. f. Income Summary
   1. 1. ________ accounts generally consist of all balance sheet accounts, and these accounts are not closed.
   2. 2. ________ Permanent accounts report on activities related to future accounting periods, and they carry their ending balances into the next period.
   3. 3. ________ Temporary accounts accumulate data related to  ________ accounting period.
   4. 4. ________ accounts include alt income statement accounts, the withdrawals account, and the Income Summary account.