The temporary owner's equity accounts are closed because they apply to only one accounting period?

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The temporary owner's equity accounts are closed because they apply to only one accounting period?

The temporary owner's equity accounts are closed because they apply to only one accounting period

true are false

2007-03-08 11:30:15 · 1 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics

1 answers

It has been over a decade since I took accounting. To the best of my recollection, owners equity accounts and NOT temporary and are never closed.

Why are you posting accounting questions under 'Law & Ethics"?

2007-03-08 12:40:55 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋