Temporary accounts are for recording
A)revenues and expenses.
B)assets.
C)liabilities.
D)shareholders' equity.
E)assets, liabilities, and shareholders' equity.

Question

Quizplus · Accepted Answer

Temporary accounts are used to record revenues and expenses, which are related to a specific accounting period and are closed at the end of that period. Examples of temporary accounts include revenue accounts, expense accounts, and dividend accounts.

Temporary Accounts Are for Recording