A revenue account is referred to as a temporary account because:
A) it relates to only one specific accounting period.
B) it only appears on the income statement.
C) once it is recorded it may be deleted.
D) it only appears on the balance sheet.

Question

Quizplus · Accepted Answer

temporary accounts do appear on the income statement but they are referred to as temporary accounts because they are only used for one accounting period

A Revenue Account Is Referred to as a Temporary Account