The Cell Reference for the Merged Cell Is The $\underline { \text { upper-right } }$

question 63

True/False

The cell reference for the merged cell is the $\underline { \text { upper-right } }$ cell reference._________________________

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Definitions:

Temporary Accounts

Accounts that are cleared out at the end of each accounting period, including revenues, expenses, and dividends accounts.

Permanent Accounts

Balance sheet accounts that carry their ending balances into the next accounting period, including assets, liabilities, and equity accounts.

Closing Entry Process

The procedure at the end of an accounting period to prepare the accounts for the next period by clearing out revenues and expenses into the Retained Earnings account.