The Accounts Payable Account Is a Temporary Account

question 65

True/False

The Accounts Payable account is a temporary account.

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Definitions:

Nuclear Families

A family unit consisting of two parents and their children living together as a single household.

Single Parent

A parent who is not living with a spouse or partner and bears most of the day-to-day responsibilities of raising a child or children.

Alcoholism

A chronic disease characterized by an uncontrollable desire to consume alcohol despite adverse effects on health, relationships, and social functioning.

Indian Culture

The traditions, practices, languages, beliefs, arts, and customs of the people of India.