Balance Sheet Accounts Are Called__________ Accounts Because They Carry Their

question 125

Short Answer

Balance sheet accounts are called__________ accounts because they carry their balances to the next accounting period, and are not closed as long as the company continues to own the asset, owe the liability and have equity.

---

Definitions:

Endothelium

The layer of cells that lines the heart, blood vessels, and lymphatic vessels, functioning as a selective barrier.

Simple Columnar

Referring to a type of epithelial tissue made up of a single layer of tall, closely packed cells, involved in secretion and absorption.

Digestive Tract

A series of hollow organs joined in a long, twisting tube from the mouth to the anus, through which food is ingested, digested, absorbed, and waste eliminated.

State of Mind

An individual's mental and emotional condition at a specific time, influenced by their thoughts, feelings, and surroundings.