what are the features of temporary statements
Answers
Answered by
1
Explanation:
A temporary account is an account that is closed at the end of every accounting period and starts a new period with a zero balance. The accounts are closed to prevent their balances from being mixed with the balances of the next accounting period. The objective is to show the profits that were generated and the accounting activity of individual periods.
Similar questions
French,
26 days ago
Social Sciences,
26 days ago
English,
1 month ago
Environmental Sciences,
1 month ago
Science,
8 months ago
Science,
8 months ago