Which of the following accounts would not be involved in any of the closing entries?
A) Accounts Payable
B) Fred Sanford,Drawing
C) Income from Services
D) Advertising Expense

Question

Quizplus · Accepted Answer

Accounts Payable is a liability account and is not closed at the end of the accounting period. Only temporary accounts like revenues, expenses, and drawings are closed.

Which of the Following Accounts Would Not Be Involved in Any