Which of the following is a permanent account?
A) Wages Expense
B) Salaries Payable
C) Service Revenue
D) Utilities Expense

Question

Quizplus · Accepted Answer

Permanent accounts are also known as real accounts, and they have balances that carry over from one accounting period to the next. Salaries Payable is a liability account, and it has a balance that carries over, making it a permanent account. Wages Expense, Service Revenue, and Utilities Expense are all temporary accounts that are closed at the end of each accounting period.

Which of the Following Is a Permanent Account