Balance Sheet Accounts Are Considered to Be

question 79

Multiple Choice

Balance sheet accounts are considered to be

• A) temporary owner's equity accounts.
• B) permanent accounts.
• C) capital accounts.
• D) nominal accounts.

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Definitions:

Objective

A specific goal or target that is defined and measurable.

Subjective

Pertaining to or depending on the individual's perceptions, feelings, or opinions.

Standard

An established level of quality or attainment used as a measure, norm, or model in comparative evaluations.

Anticipatory Repudiation

Occurs when one party to a contract indicates, before the performance is due, that they will not fulfill their contractual obligations.