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Posted on February 6, 2023 by Srinu Kalyan

Is Liability Account a Real Account?

A Real Account is a General Ledger account that is not closed at the end of a period or at the end of the accounting period. The balances of Real Accounts are carried forward to the next year as the opening balance. A Liability Account is a Real Account.

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Srinu Kalyan

Srinu Kalyan

Principal & CEO
Remote Books Online LLC

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