Which of the following is a temporary account?
A)Unearned revenues
B)Accumulated depreciation
C)Dividends declared
D)Wages payable

Question

Quizplus · Accepted Answer

Dividends declared is a temporary account as it is closed at the end of each accounting period and its balance is transferred to retained earnings. The other options, unearned revenues, accumulated depreciation, and wages payable, are all examples of permanent accounts as they are not closed at the end of each period and their balances carry forward to the next period.

Which of the Following Is a Temporary Account