Balance sheet accounts are not considered real accounts.

Name: Balance sheet accounts are not considered real accounts.
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Question

Quizplus · Accepted Answer

Balance sheet accounts are considered real accounts as they represent actual assets, liabilities, and equity of a company. Real accounts are those accounts that represent tangible assets, such as cash, inventory, property, and equipment, and intangible assets, such as patents and trademarks.

Balance Sheet Accounts Are Not Considered Real Accounts