Which of the following is a real (permanent) account?
A) Goodwill
B) Service Revenue
C) Accounts Receivable
D) Both Goodwill and Accounts Receivable

Question

Quizplus · Accepted Answer

Goodwill and Accounts Receivable are both real (permanent) accounts. Goodwill represents the value of a company's reputation, customer relationships, and other intangible assets. Accounts Receivable represents money owed to a company by its customers for goods or services sold on credit. Service Revenue is a nominal (temporary) account, which is used to track the revenue earned by a company during a specific accounting period.

Which of the Following Is a Real (Permanent) Account