Examlex
The term used to refer to people in their 80s is which of the following?
Permanent/Temporary
Permanent/temporary classification refers to the duration for which assets, liabilities, or policies are intended to last, with permanent being indefinite and temporary for a limited period.
Normal Balance
The expected debit or credit balance a particular account should hold under double-entry bookkeeping.
Financial Statement
A written record that conveys the business activities and financial performance of a company, including balance sheets and income statements.
Permanent/Temporary
Classification of accounts where permanent accounts refer to items on the balance sheet and temporary accounts to items that pertain to the income statement.
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