Balance Sheet accounts are also called:
A)Permanent accounts
B)Temporary accounts
C)Equity accounts
D)None of the choices are correct

Name: Balance Sheet accounts are also called: A)Permanent accounts B)Temporary accounts C)Equity accounts D)None of the choices are correct
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Question

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Balance Sheet accounts are referred to as permanent accounts because they carry their balances into the next accounting period, unlike temporary accounts which are closed at the end of each period.

Balance Sheet Accounts Are Also Called