Examlex
Which of the following is a necessary criterion for a scientific hypothesis?
Permanent Account Balances
The ongoing balances in balance sheet accounts that are carried over from one accounting period to the next.
Temporary Account Balances
Accounts that are closed at the end of each accounting period, including revenues, expenses, and dividends accounts.
Net Income
The net gain a company achieves after all operational costs and taxes are removed from its entire revenue.
Closing Entries
Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent accounts, thereby preparing the books for the next period.
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