All asset accounts,all liability accounts,contributed capital,and retained earnings accounts are called permanent accounts.

Question

Quizplus · Accepted Answer

Permanent accounts are those accounts that are not closed at the end of an accounting period and their balances are carried forward to the next period. Examples include all asset accounts, all liability accounts, contributed capital, and retained earnings accounts.

All Asset Accounts,all Liability Accounts,contributed Capital,and Retained Earnings Accounts Are