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permanent accounts is another name for nominal accounts,is it correct?

Asked by: 619 days ago - 2 Answers - 1448 views

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    No – a permanent account has a remaining balance after closing entries and can be found on the bbalance sheet (assets, liabilities, etc.) A nominal account, or temporary accounts, is found on the income statement (sales, cost of sales, etc.) and have a zero balance at the end of a period due to closing entries.

    Answer by Rick 618 days ago


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    no

    Answer by Errol 401 days ago


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