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What Is Accounting?: Mastery Test

Select the correct answers from each drop-down menu.

Which transactions do real accounts record?

Real accounts record transactions related to assets and properties like machinery and copyrights. While machinery is _________, copyrights are _________.

A. tangible
B. intangible

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Drop-down options:
1. tangible
2. intangible



Answer :

GinnyAnswer

Final answer:

Real accounts record transactions related to tangible and intangible assets like machinery and copyrights.


Explanation:

Real accounts record transactions related to tangible and intangible assets such as machinery and copyrights. Machinery is a tangible asset, while copyrights are an intangible asset. Real accounts do not deal with personal transactions.


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