Question: Distinguish between permanent and temporary accounts. ( 1 mark) Identify which of the following accounts is permanent or temporary in nature? ( 1.5 Marks) 1.

  1. Distinguish between permanent and temporary accounts. ( 1 mark)
  2. Identify which of the following accounts is permanent or temporary in nature? ( 1.5 Marks)
1. Utilities Payable
2. Utilities Expense
3. Supplies
4. Supplies Expense
5. Fees Earned
6. Unearned Fees
7. Accounts Receivable
8. Dividends
9. Retained Earnings
10. Accumulated DepreciationEquipment
11. Depreciation ExpenseEquipment
12. Equipment

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