The permanent accounts appear on which financial statement?
A) Statement of Financial Position.
B) Income Statement.
C) Retained Earnings Statement.
D) Statement of Cash Flows.

Question

Quizplus · Accepted Answer

The permanent accounts, which include assets, liabilities, and equity accounts, appear on the Statement of Financial Position (also known as the Balance Sheet). The Income Statement and Retained Earnings Statement only include temporary accounts, such as revenue and expense accounts, while the Statement of Cash Flows shows the changes in cash over a period of time.

The Permanent Accounts Appear on Which Financial Statement