Which of the Following Statements Is True

question 50

Multiple Choice

Which of the following statements is true?

• A)Balance sheet accounts are referred to as nominal accounts.
• B)Balance sheet accounts are referred to as permanent accounts.
• C)Dividends are permanent accounts.
• D)All of these statements are true.

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Definitions:

Intangible Outputs

Non-physical results produced by an organization, such as customer satisfaction, brand reputation, or intellectual property.

Service Organisations

Entities that primarily provide intangible products or services to customers rather than physical goods.

Merchandisers

Businesses that purchase goods for resale at a profit, dealing primarily in finished goods rather than services or production.

Physical Products

Tangible items that are produced and then sold to consumers or other businesses.