Which of the Following Accounts Would NOT Be Considered a Permanent

question 55

Multiple Choice

Which of the following accounts would NOT be considered a permanent account?

• A) Accounts Receivable
• B) Depreciation Expense
• C) Accounts Payable
• D) Prepaid Rent Expense

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Definitions:

Importing Sugar

The process of buying or bringing in sugar from foreign countries to meet domestic demand or consumption.

Developing Nations

Countries with a lower level of material well-being and economic development compared to industrialized nations.

Per-capita Incomes

The average income earned per person in a given area in a specified year, often used to gauge an area's standard of living.

Gross Domestic Product (GDP)

A measure of the economic output of a country, representing the total value of all goods and services produced over a specific time period.