An account that is not closed at the end of the period is called a(n)________.
A)expense account
B)temporary account
C)permanent account
D)revenue account

Question

Quizplus · Accepted Answer

A permanent account is a type of account that is not closed at the end of the accounting period, as it tracks balances from year to year. Examples of permanent accounts include asset, liability, and equity accounts. Temporary accounts, on the other hand, are closed at the end of the period and include revenue, expense, and dividend accounts. Therefore, the best choice for the question is C) permanent account.

An Account That Is Not Closed at the End of the Period