Listed below are a number of accounts.Use the table below to classify each account.Indicate whether it is a temporary or permanent account,whether it is included in the income statement or balance sheet,and if it is closed at the end of the accounting period and,if so,how it is closed.The first one is done as an example.
Definitions:
Customers Served
The number of unique clients or customers that a business or service has provided for over a specific period.
Revenue Variance
The variance between projected revenue and the actual income received.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
Variable Costs
Costs that vary directly with the level of production or sales volume, such as raw materials and direct labor.
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