Which of the following accounts is a permanent account?
A) Supplies
B) Supplies Expense
C) Owner's drawing
D) Fees Income

Name: Which of the following accounts is a permanent account? A) Supplies B) Supplies Expense C) Owner's drawing D) Fees Income
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Question

Quizplus · Accepted Answer

Supplies is a permanent account because it is an asset account that carries its balance over to the next accounting period, unlike temporary accounts which are closed at the end of the period.

Which of the Following Accounts Is a Permanent Account