Accounts whose balances apply to one fiscal period only are called permanent accounts.
Correct Answer:
Verified
Q56: Which of the following would be an
Q57: Which statement is NOT true about the
Q58: The ability of an asset to be
Q59: Which of the following entries is a
Q60: A relatively long-lived asset that is held
Q62: On the income statement, the ending merchandise
Q63: Sales plus Sales Returns and Allowances minus
Q64: Cost of Goods Sold is an operating
Q65: Merchandise Inventory is a nominal account.
Q66: Net Sales is Sales minus Sales Returns
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents