Another Name For Temporary Accounts Is Real accounts

question 113

True/False

Another name for temporary accounts is real accounts.

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Definitions:

Condition Subsequent

In a contract, a future event that terminates the obligations of the parties when it occurs.

Recurrent Conditions

Medical issues or diseases that return repeatedly, even after treatment.

Quasi-Contract

A court-imposed contractual obligation to prevent unjust enrichment.

Unjustly Enriched

A legal term describing a situation where an individual unjustly benefits at another's expense, potentially requiring restitution.