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  • Ch 5 Summary Principles of Accounting, Volume 1: Financial Accounting

    Permanent accounts are the ones that continue to record the cumulative balances over time. Other examples of permanent accounts are—asset, liability, equity, accounts payable, inventory, and investments. Permanent accounts are accounts that are not closed at the end of the accounting https://accounting-services.net/ period, hence are measured cumulatively. Permanent accounts refer to asset, liability, and capital […]