An Example of a Permanent Account Is The

question 81

Multiple Choice

An example of a permanent account is the:

• A)utilities expense account
• B)unearned revenue account
• C)service revenue account
• D)depreciation expense account

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Definitions:

Reflective Listening

A communication method in which the listener restates what has been said in order to confirm understanding of both the content and the feelings expressed.

Limited Partnership

A business structure where one or more general partners manage the business and are personally responsible for its debts, and one or more limited partners contribute capital but have limited liability.

Double Taxed

The situation where the same income is taxed twice, typically referring to corporate income taxed at both the corporate level and again when distributed as dividends to shareholders.

Tax Liability

The total amount of tax owed by an individual or business to a taxing authority like the government.