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Consider Bowen's reaction series. Which mineral would you expect to see as a phenocryst in a porphyritic basalt?
Permanent/Temporary
Classification of accounts where permanent accounts represent balance sheet items carried over multiple periods, and temporary accounts are income statement items closed at the end of each period.
Normal Balance
The side of an account (debit or credit) on which increases to the account are recorded, determined by the account type.
Financial Statement
A formal record of the financial activities and position of a business, person, or other entity over a period of time.
Permanent/Temporary
Categories of accounts in accounting where permanent accounts appear on the balance sheet and temporary accounts are closed at year's end, affecting income summary.
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