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Is prepaid insurance a permanent or temporary account?
it is permanent
Accounts Payable is a temporary or permanent account?
permanent
Is Interest expense a permanent account?
No it is a temporary account
Is retained earnings temporary account or permanent account?
Permanant
Is unearned revenue a temporary account?
No it's permanent a
Is income summary a temporary or permanent account?
TEMPORARY ACCOUNT
Is prepaid insurance a permanent or temporary account?
it is permanent
Accounts Payable is a temporary or permanent account?
permanent
Is Interest expense a permanent account?
No it is a temporary account
Is retained earnings temporary account or permanent account?
Permanant
Is dividends declared account permanent or temporary account?
Dividend is a temporary account at it is closed the retained earnings account at the end of fiscal year.
Is unearned revenue a temporary account?
No it's permanent a
Is the capital account an permanent or temporary account?
The capital account is considered a permanent account. Unlike temporary accounts, which are closed at the end of an accounting period and reset to zero, permanent accounts, such as the capital account, carry their balances forward into future periods. This reflects the ongoing nature of ownership equity in a business.
What would be a temporary account A inventory b sales c accounts payable d accounts receivable?
a. inventory
Is the purchase account a permanent account?
No, the purchase account is not a permanent account; it is a temporary account. Temporary accounts, such as purchase accounts, track financial activity over a specific period and are closed at the end of that period to a permanent account, typically retained earnings. Permanent accounts, on the other hand, carry their balances into future accounting periods and include assets, liabilities, and equity accounts.
Is cash account temporary account?
No cash account is a permanent account. as u treated cash as a debit element in General journal against of Capital. Capital is a permanent account so cash too.
Is capital stock a permanent or temporary account?
Capital stock is considered a permanent account. Permanent accounts are ones which hold financial information for multiple accounting periods. Capital stock remains in an account until an accountant moves it to another account, which means that it is permanent.
