permanent accounts

Definition

These areas will have an operating balance in them until the end of the accounting period, like the revenue account.

Use permanent accounts in a sentence

You need to make sure that you are following how your permanent accounts are doing and hope that it is well.

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The corporation maintained a large number of separated permanent accounts as a part of their business strategy for money management.

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The company made sure that every year they properly maintained their permanent accounts. The accountants were responsible for maintaining this information.

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permanent accounts payable subsidiary ledger