Temporary accounts are closed at the end of the accounting period.

Name: Temporary accounts are closed at the end of the accounting period.
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Temporary accounts include revenue, expense, and dividend accounts, which are closed at the end of each accounting period to prepare for a new period. This is done to clear out the balances in these accounts and transfer them to retained earnings (or the owner's equity account), which is a permanent account.

Temporary Accounts Are Closed at the End of the Accounting