Usually everything would be intangible, I want to say is false
Oh my chocolate milkshake so many IT can color Pepsi turn around there’s a grand kick your out of a
Answer:
Following Statement is True:
Income statement accounts are temporary accounts, while balance sheet accounts are permanent accounts.
Explanation:
Income statement deals with the accounts which closes every year and start from zero for a new year, so these accounts are temporary accounts. On the other side Balance sheet deals with the accounts which carry their balances year by year and does not close, so these account are permanent until business does not seem to run in foreseeable future.