For Each of the Following, Identify in Column 1 the Category

question 24

Essay

For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Definitions:

Monetary Profit

The financial gain obtained when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Historically Associated

Linked or related through history, often pertaining to events, cultures, practices, or objects that have a shared or interrelated past.

Durability

The ability of an item or material to withstand wear, pressure, or damage.

Transportability

The ease with which goods, services, or ideas can be moved or transmitted from one place to another.