Which of the following accounts would not be included in the closing process at year-end?
A)Rent expense.
B)Sales revenue.
C)Additional paid-in capital.
D)Cost of goods sold.

Question

Quizplus · Accepted Answer

Additional paid-in capital is a permanent account that is not closed at year-end. Rent expense, sales revenue, and cost of goods sold are all temporary accounts that are closed at year-end to prepare for the next accounting period.

Which of the Following Accounts Would Not Be Included in the Closing