Which of the Following Are All Permanent Accounts

question 30

Multiple Choice

Which of the following are all permanent accounts?

• A) Cash, Rent Expense, owner's drawing
• B) Accumulated Depreciation, Notes Payable, owner's drawing
• C) Cash, Prepaid Insurance, Notes Payable
• D) Owner's capital, owner's drawing, Rent Expense

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Definitions:

Unreasonable Liability

A legal responsibility or obligation that is excessively burdensome or unfair under the circumstances.

Respondeat Superior

A legal doctrine that holds an employer or principal legally responsible for the wrongful acts of an employee or agent, when such acts occur within the scope of the employment or agency.

Liability

Refers to the legal responsibility for one's acts or omissions.

Partnership Business

A form of business operation between two or more individuals who share management and profits.