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Q: What is the alternate terminology for permanent and temporary accounts ?
A: Temporary accounts are sometimes called nominal accounts, and permanent accounts are sometimes called real accounts.
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Asked 7/29/2012 1:05:21 AM
Updated 148 days ago|1/21/2018 7:00:12 PM
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Edited by jeifunk [1/21/2018 6:43:57 PM]
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Temporary accounts are sometimes called nominal accounts, and permanent accounts are sometimes called real accounts.
Added 148 days ago|1/21/2018 7:00:12 PM
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Why are adjustments made during the closing of one period?
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Updated 6/28/2015 2:44:02 PM
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Adjustments made during the closing of one period to make sure the accounting records and financial statement are up-to-date based on accrual-basis accounting.
Added 6/28/2015 2:44:01 PM
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