Indicate Beside Each of the Following Accounts Whether the Account

question 126

Essay

Indicate beside each of the following accounts whether the account is a temporary or permanent account.(a) Cash(b) Prepaid insurance(c) Unearned Revenue(d) Accounts receivable(e) Insurance expense(f) Smith, capital(g) Smith, withdrawals(h) Rent expense(i) Revenue(j) Supplies(k) Supplies expense(l) Depreciation expense, building(m) Accumulated depreciation, building

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Definitions:

Vertical Communication

The exchange of information and messages between different levels of an organization's hierarchy, including upward and downward communications.

Horizontal Communication

The exchange of information, messages, or communication across the same levels of an organization or among peers.

Downward Communication

The flow of information from higher levels of an organizational hierarchy to lower levels, typically involving directives, updates, and feedback.

Pent-up Emotions

Refers to feelings that a person has suppressed or not expressed over a period of time.