Why are revenue and expense accounts called temporary or, Operation Management

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Why are revenue and expense accounts called temporary or

Would you please adress these three questions from your own wrods.

1. Why are revenue and expense accounts called temporary or nominal accounts?

2. Is it necessary that a trial balance be taken periodically? What purpose does it serve?

3. What are adjusting entries and why are they necessary?

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Operation Management: Why are revenue and expense accounts called temporary or

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Operation Management: Why are revenue and expense accounts called temporary or

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