Income Statement accounts are also called:
A)Equity accounts
B)Permanent accounts
C)Temporary accounts
D)None of the choices are correct

Name: Income Statement accounts are also called: A)Equity accounts B)Permanent accounts C)Temporary accounts D)None of the choices are correct
Brand: Quizplus
Rating: 5.0 (30 reviews)

Question

Quizplus · Accepted Answer

Income Statement accounts are called Temporary accounts because they are closed at the end of each accounting period to start fresh in the next period.

Income Statement Accounts Are Also Called