Supplies Expense Is a Temporary Account

question 25

True/False

Supplies expense is a temporary account.

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Definitions:

Salaried Employee

An employee who is paid a fixed amount of money or compensation periodically, often annually or monthly, regardless of the number of hours worked.

Tax Return

A formal statement of income filed with a tax authority to calculate and pay taxes owed.

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two variables.

Scientific Study

The pursuit and application of knowledge and understanding of the natural and social world following a systematic methodology based on evidence.