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

question 30

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 on which the account balance is reported, and in Column 4 the nature of the account (permanent/temporary).
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Definitions:

Process

A sequence of activities linked together for performing a particular task.

Perpetual Inventory Accounts

An inventory system that continuously keeps track of inventory levels and costs, updating the accounts after each purchase or sale.

Subsidiary Ledgers

Detailed records that support summaries contained in the general ledger, often used for accounts receivable and payable.

Job Order

A request or instruction to perform a specific task, often used in manufacturing or service industries to track costs and work.