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Classify the Following Accounts as Real (Permanent) or Nominal (Temporary)

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Essay

Classify the following accounts as real (permanent) or nominal (temporary), and indicate with an X whether the account is closed. Also, indicate the financial statement in which each account will appear. The Accounts Payable account is given as an example.
Classify the following accounts as real (permanent) or nominal (temporary), and indicate with an X whether the account is closed. Also, indicate the financial statement in which each account will appear. The Accounts Payable account is given as an example.


Definitions:

Pet

A domestic or tamed animal kept for companionship or pleasure.

Established Careers

Careers that have been developed and solidified over time, often associated with stability and recognition in one's field.

Completed Education

The attainment of the highest level of education an individual has achieved, marked by the completion of a specific course of studies or degree.

Young Adults

Individuals who fall within the age range of late adolescence to early adulthood, typically between the ages of 18 to 25, experiencing significant life transitions such as starting university or entering the workforce.

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