Purchases Is a Temporary Account Reported on the Income Statement

question 17

True/False

Purchases is a temporary account reported on the income statement as an expense.

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Definitions:

Brachiocephalic

Pertaining to the brachiocephalic artery or vein, which are major blood vessels in the neck and upper chest that supply blood to the head, neck, and arms.

Cephalic

Relating to or located on the head.

Brachial

Pertaining to the arm, specifically the area of the upper arm close to the shoulder.

Femoral

Relating to the femur or thigh, the largest and strongest bone in the human body.