About the permanent account

Assignment Help Managerial Accounting

Reference no: EM131221067

1. Which of the following is a permanent account?

A. Accounts Receivable

B. Professional Fees Earned

C. Advertising Expense

D. Cash Dividends

2. An adjusting entry will not take the format of which one of the following entries?

A. A debit to an expense account and a credit to a liability account

B. A debit to an asset account and a credit to a revenue account

C. A debit to an expense account and a credit to a revenue account

D. A debit to a liability account and a credit to a revenue account.

Reference no: EM131221067

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