This Question Focuses on the Accounting Cycle and the Accounting

question 30

Short Answer

This question focuses on the accounting cycle and the accounting model. For each item listed, indicate the best description by entering a capital letter in the space provided.
Description
A. End-of-period entries to transfer balances of temporary accounts to another account.
B. Income statement accounts.
C. Revenues collected but not earned.
D. Revenues minus expenses.
E. An expense incurred but not recorded nor paid.
F. Ending retained earnings.
G. Statement of financial position accounts.
H. Entries at the end of the period necessary to measure income.
Item
____ 1. Accrued expense
____ 2. Temporary accounts
____ 3. Closing entries
____ 4. Permanent accounts
____ 5. Adjusting entries
6. Deferred revenues

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Definitions:

Dixiecrats

A political party in the United States, officially known as the States' Rights Democratic Party, that split from the Democratic Party in 1948, advocating for racial segregation and states' rights.

States' Rights Democrats

A faction within the Democratic Party that emerged in the mid-20th century, advocating for states' rights to legislate and govern without federal intervention, particularly on issues of racial segregation.

J.Strom Thurmond

A long-serving U.S. senator known for his strong support of racial segregation and opposition to civil rights legislation.

Taft-Hartley Act

A 1947 United States federal law that restricts the activities and power of labor unions.