Which of the Following Is True Concerning Temporary and Permanent

question 97

Multiple Choice

Which of the following is true concerning temporary and permanent accounts?

• A)Cash is a temporary account.
• B)Permanent accounts represent activity over the entire life of the company.
• C)Permanent accounts must be closed at the end of every reporting period.

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Definitions:

Prevalent

Prevalent generally refers to something common or widespread within a particular area or at a specific time.

Vascular Dementia

A decline in cognitive skills caused by conditions that block or reduce blood flow to the brain, depriving brain cells of oxygen and nutrients.

Hypertension

A chronic medical condition where the blood pressure in the arteries is elevated, posing risks for heart disease, stroke, and other complications.

Frontal-Temporal Dementia

A group of brain disorders caused by degeneration of the frontal and/or temporal lobes of the brain, affecting personality, behavior, and language.