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Emmanuel Balogun
on Nov 12, 2024

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Real accounts are not permanent accounts.

Real Accounts

Accounts that represent assets, liabilities, and equity, which are not closed at the end of the accounting period and carry over their balances.

Permanent Accounts

Accounts in the general ledger that are not closed at the end of an accounting year and whose balances are carried forward to the next year.

  • Recognize the categorization and attributes of assorted balance sheet and income statement accounts.
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Sariah HunterNov 16, 2024
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