Which of the following accounts is not closed at the end of the accounting period?
A)Purchase Discounts
B)Capital
C)Depreciation Expense
D)Sales

Name: Which of the following accounts is not closed at the end of the accounting period? A)Purchase Discounts B)Capital C)Depreciation Expense D)Sales
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Question

Quizplus · Accepted Answer

Capital accounts are not closed at the end of the accounting period. They are permanent accounts that carry their balances into the next period.

Which of the Following Accounts Is Not Closed at the End