Yes, both are different terms in accounting. Inactive accounts means that accounts have been closed and will not be used in future as well. While, dormant accounts are those that are not functional today but may be used in future.
Tell me what is the Master Account?
Tell me what are the activities that includes in Cash Flow Statement?
Explain under what type of account does the unearned revenues fall?
Tell me what is the equation for Acid-Test Ratio in accounting?
Explain what are the accounting events that are frequently involved in compound entries?
Do you know retail banking?
Explain me what is important to effective market analysis?
Explain me fair value accounting?
Explain some of the accrued expenses and the accounts in which you would record them?
Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
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