17. Which of the following statements is true? A. Cash is a nominal account, and...

80.2K

Verified Solution

Question

Accounting

17. Which of the following statements is true? A. Cash is a nominal account, and Service Revenue is a temporary account. B. Equipment is a real account, and Salary Expense is a permanent account. C. Accounts Receivable is a temporary account, and Dividends is a real account. D. Prepaid Rent is a permanent account, and Income Summary is a nominal account.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students