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3 Written questions

3 Multiple choice questions

  1. accounts used to accumulate information until it is transferred to the owner's capital account
  2. Journal entries recorded to update general ledger accounts at the end of a fiscal period
  3. any persons or groups who will be affected by an action

2 True/False questions

  1. Closing EntriesJournal entries used to prepare temporary accounts for a new fiscal period


  2. Component Percentageaccounts used to accumulate information from one fiscal period to the next


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