In the First Space Below, Indicate Whether Each Account Is

question 61

Essay

In the first space below, indicate whether each account is a real or nominal account using (R) Real Account and (N) Nominal Account. In the second space below, indicate by an (X) if the account should be closed.

N	X	0. Advertising Expense
________	________	1. Prepaid Insurance
________	________	2. Service Fees
________	________	3. Depreciation Expense
________	________	4. Accumulated Depreciation
________	________	5. Salaries Payable
________	________	6. Prepaid Rent
________	________	7. Income Summary
________	________	8. Insurance Expense

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Definitions:

Functional

Designed to be practical and useful, rather than attractive.

Chronological Format

A method of organizing information or events in the order that they occurred in time.

Professional History

A record or summary of an individual's work experience and qualifications.

Candidate's Strength

The unique qualities or abilities that a job applicant possesses, making them a suitable match for a specific role.