Revenue and Expense Accounts Are Permanent Accounts and Should Not

question 41

True/False

Revenue and expense accounts are permanent accounts and should not be closed at the end of the fiscal period.

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Definitions:

Visual Information

Data and inputs received by the eyes and processed by the brain to form visual perception.

Brain

The central organ of the human nervous system, responsible for processing sensory information, and controlling thoughts, memories, emotions, and motor skills.

Hemisphere

Half of the terrestrial globe or celestial sphere, especially one of the halves into which the earth is divided, either north-south by the equator or east-west by a meridian.

Phencyclidine (PCP)

Substance that produces euphoria, slowed reaction times, and involuntary movements at low doses; disorganized thinking, feelings of unreality, and hostility at intermediate doses; and amnesia, analgesia, respiratory problems, and changes in body temperature at high doses.