Question

Balance sheet accounts Group of answer choices 1. are called real accounts 2. have zero balances after the closing entries have been posted 3. are not affected by adjustments 4. represent amounts accumulated during a specific period of time

Answer 1

Answer:

1. are called real accounts

Explanation:

Balance sheet accounts are the real account and these accounts do not close and balances of these accounts accumulated and carried forward to next accounting period. These balance represents the net accumulated values of all the past years. These accounts are also affected by the all the adjustments. Every transaction ultimately effect any of the balance sheet account.