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Why are income statement accounts considered temporary accounts?200 wordsWhy are income statement accounts considered...

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Accounting


Why are income statement accounts considered temporary accounts?200 words

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The income statement accounts are accounts used to record transactions pertaining to revenues gains expenses and losses during a given accounting year Examples of income statement accounts are sales revenue interest income gain on disposal of asset    See Answer
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In: AccountingWhy are income statement accounts considered temporary accounts?200 wordsWhy are income statement accounts considered temporary accounts?200 words

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