Permanent accounts would not include:
A)Interest Expense.
B)Salaries Payable.
C)Prepaid Rent.

Question

Quizplus · Accepted Answer

Permanent accounts are those that carry their balances over into the next accounting period. Interest Expense is a temporary account because it relates to a specific period and is closed to Retained Earnings at the end of that period. Salaries Payable and Prepaid Rent are both examples of permanent accounts because they represent ongoing financial positions of the company that are carried forward into future accounting periods.

Permanent Accounts Would Not Include