Which of the Following Is a Permanent Account

question 169

Multiple Choice

Which of the following is a permanent account?

• A) Wages Expense
• B) Salaries Payable
• C) Service Revenue
• D) Utilities Expense

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Definitions:

Level Of Service

Describes the degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.

Contractual System

is a formal agreement between parties governing their commercial relationship and obligations.

Independent Retailer

A business owner who operates their retail store independently, without being part of a chain or franchise system.

Corporate Chain

A series of interconnected companies or businesses under common ownership, often engaging in coordinated activities or strategies.