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45.Which of the following accounts is a permanent account? A. BuildingB. Depreciation Expense–BuildingsC. Interest ExpenseD. Service Revenue46.Which of the following is nota permanent account? 47.Which of the following is a temporary account? 48.Which of the following is nota temporary account?
49.Closing entries are made A. to clear revenue and expense accounts of their balances.B. to clear dividends of its balance.C. to summarize a period’s revenues and expenses.D. All of these choices.50.An important purpose of closing entries is to