Which of the following is considered a permanent account?
A)Income Statement accounts
B)Balance Sheet accounts
C)All the choices are correct
D)None of the choices are correct

Question

Quizplus · Accepted Answer

Permanent accounts are accounts that are not closed at the end of an accounting period. They are carried forward to the next period and continue to be used. Balance Sheet accounts are permanent accounts because they represent the assets, liabilities, and equity of a company.

Which of the Following Is Considered a Permanent Account