b Which of the following is a permanent account vi Revenue v

b. Which of the following is a permanent account? vi. Revenue vii. Advertising Expense viii. Accounts Receivable ix. Dividends x. Insurance Expense

Solution

Permanent accounts are accounts whose balance is carried forward to next period and are not closed at the end of the period.Assets;liabilities etc are examples of permanent accounts.

Hence accounts receivable is a current asset is an example of a permanent account.