Do you classify "Accepts-All emails" as Bounced?

Do you classify "Accepts-All emails" as Bounced?

I seem to have a high percentage of bounced emails with Zoho Campaigns, even after cleaning my list with an outside service.  We are in the B2B marketplace where statistics show that some 30% of B2B servers are set up to catch all.

Does Zoho Campaigns classify all Accepts All emails as bounced, or only ones that truly are hard bounces?

Thank you.