From the list of accounts, determine whether the account is a temporary or permanent account. (Choices may be used more than once.)
-salaries payable

Question

Quizplus · Accepted Answer

Salaries payable is a liability account, representing an amount owed to employees. It is a permanent account because it carries its ending balance into the next accounting period and is not closed at the end of the accounting year.

From the List of Accounts, Determine Whether the Account Is