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Mar 8, 2024 · s normal balance - answerthe expected balance in an account, the side that increases the value of the account cash basis accounting - answercompanies only recognize revenue when cash is received and expenses when cash is paid temporary accounts - answerincome statement accounts, dividends permanent accounts - answerbalance sheet accounts four closing entries for temporary accounts This document is an exam for an Intermediate Accounting 1 course at San Beda College Alabang. Take the Self-Test to make sure you understand the terminology and formulas. what issued 51 Accounting Research Bulletins - b What encompasses Stockholders' Equity? - contributed capital, retained earnings How could Study with Quizlet and memorize flashcards containing terms like The balance sheet reports the financial position of a company at a specific date in time whereas all other financial statements report changes in the financial position of the company over a period of time. 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