Which one of the following accounts is not closed at the end of an accounting period?
A) Retained Earnings account
B) Dividends account
C) Service Revenue account
D) Insurance Expense account

Question

Quizplus · Accepted Answer

The Retained Earnings account is not closed at the end of an accounting period. It keeps a running total of all the profits and losses from all accounting periods, and the balance is carried forward to the next accounting period. The other accounts listed (Dividends, Service Revenue, and Insurance Expense) are all temporary accounts that are closed at the end of each accounting period.

Which One of the Following Accounts Is Not Closed at the End