Which of the Following Accounts Are Considered Permanent Accounts

question 207

Multiple Choice

Which of the following accounts are considered permanent accounts?

• A)Inventory and Cost of Goods Sold
• B)Land and Accounts Receivable
• C)Accounts Payable and Service Revenue
• D)Common Stock and Salary Expense

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Definitions:

Prices

The sum of money anticipated, needed, or provided as compensation for something.

New Information

Fresh data or insights that have not been previously available or considered, commonly impacting financial markets and investment decisions.

Market Efficiency

The degree to which stock prices reflect all available, relevant information, making it impossible to consistently achieve higher returns.

Oil-company Stocks

Shares that represent ownership in companies involved in the exploration, extraction, refining, and selling of oil and oil products.