_______ Are the Accounts of Assets,liabilities,and Owners' Equity,excluding Accounts for Revenues

question 29

Multiple Choice

_______ are the accounts of assets,liabilities,and owners' equity,excluding accounts for revenues and expenses.

• A) Liquid accounts
• B) Stable accounts
• C) Permanent accounts
• D) Priority accounts

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Definitions:

Adjusting Entry

An accounting journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Interest-Bearing Note

A debt instrument that pays interest to the holder at a specified rate over the life of the note until its maturity.

Interest-Bearing Note

A debt instrument that pays interest to the holder until the maturity date when the principal amount is repaid.

Interest Expense

The cost incurred by an entity for borrowed funds, representing the interest payable on any type of debt.