Check your knowledge

1.

Which of the following isn't a posting account?

Profit and loss

Revenue

Expense

Balance sheet

2.

Which of the following system accounts isn't a required system account?

Error account

Cash difference

Year-end result

Penny differences

3.

You plan to transfer the balances to the Closing sheet forms during the closing process. Which of the following values should you select to update operating accounts?

Results

Blank

Balance

Capital

Answer the following questions to see what you learned.

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