Examlex
Loyalty is defined as
Permanent
Describes assets or records that are intended to be held or used on a long-term basis and not expected to be sold or otherwise converted into cash within a year.
General Journal
A journal used to record all types of accounting transactions with detailed explanations.
Permanent
Refers to accounts that represent the financial standing of a company and carry their ending balances over from one accounting period to the next, such as assets, liabilities, and equity accounts.
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