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Why are only the balance sheet accounts permanent?

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Why are only the balance sheet accounts permanent?

Answered Same Day Dec 21, 2021

Solution

Robert answered on Dec 21 2021
119 Votes
Why are only the balance sheet accounts permanent?
In the Balance sheet all assets, Liabilities and Equity are shown. All these accounts are
eal accounts and Personal accounts .For example assets are real accounts and equity
are personal accounts. Therefore, Permanent accounts are also...
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