Which of the following account(s) are real accounts?
A) Cash
B) Accumulated Depreciation
C) Notes Payable
D) Capital
E) All of the accounts listed are real.

Question

Quizplus · Accepted Answer

Real accounts are those found on the balance sheet and include assets, liabilities, and equity accounts. Cash is an asset, Accumulated Depreciation is a contra-asset account, Notes Payable is a liability, and Capital is an equity account. All of these accounts are real accounts because they carry their balances over to the next accounting period and are not closed at the end of the accounting year.

Which of the Following Account(s) Are Real Accounts