Which of the following statements about temporary account is not correct: A: All temporary accounts are closed at the end of each accounting period. B: In the post-closing trial balance, the temporary accounts are reset to zero ending balances. C: Revenue and owner’s capital account are examples of temporary accounts. D: Income summary is a temporary account used for the closing process.

Thisswitch can be touched on no accounts.

Which of the following accounts are considered permanent accounts?

The increase of expense should be debited to expense accounts.

Which of the following accounts normally contain a credit balance? A: land B: Accounts Receivable. C: Accounts Payable. D: Cash

Which<br/>of the following accounts is NOT a liability? ( ) A: Accounts Payable B: Notes Payable C: Salaries Payable D: Accounts Receivable

It is advisable that we use the same password for different accounts.

The purchase of tools on account is recorded by a A: debit to Accounts Payable and a credit to Tools. B: credit to Tools and a credit to Accounts Payable. C: debit to Tools and a credit to Accounts Payable. D: debit to Tools and a debit to Accounts Payable.

Accounting cycle usually can be divided into the following steps:(1)Analyzing transactionsfrom source documents.(2)Applying double-entry system to .(3) the entries in the journals into the general(and the subsidiary) ledger accounts.(4) the general ledger accounts.(5) ，journalizing and posting them into ledger accounts.(6)Preparing a trial balance .(7)Preparing .

Typical current liability accounts include accounts payable,unearned revenue, bonds payable.