Problemas
Question 10 (1 point) The ending account balances of permanent accounts for one fiscal period are the beginning account balances res for the next fiscal peri OTrue OFalse
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David
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Respuesta
True
Explicación
## Step 1The problem statement is about the relationship between the ending balances of permanent accounts in one fiscal period and the beginning balances of the next fiscal period. ## Step 2Permanent accounts, also known as real accounts, include assets, liabilities, and equity accounts. These accounts do not close at the end of a fiscal period. Instead, their balances are carried over to the next fiscal period.## Step 3The balances of these permanent accounts are not reset to zero at the end of a fiscal period. Instead, they are carried over to the next fiscal period. This means that the ending balances of these accounts in one fiscal period become the beginning balances for the next fiscal period.