A Permanent Account That Is Part of Owner's Equity Is

question 145

Essay

A permanent account that is part of owner's equity is ______________.

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Definitions:

Restricted

Refers to funds or assets that are earmarked for specific purposes and cannot be used for general expenditures.

Nonspendable

Funds not available for spending because they are legally or contractually required to remain intact.

Committed

In finance, "committed" refers to a pledge or firm agreement to execute a financial transaction or investment.

Assigned

Allocated or designated to a particular task, position, or purpose.