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Accounting Cycle and Classifying Accounts
?
Revenue and expense accounts at the beginning and end of the accounting period should have
a balance of zero
balances of cumulative amounts of activity during the period
a net balance (credits minus debits) equal to the capital account
a net balance equal to assets minus liabilities
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (A)
a balance of zero
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