Which of the following accounts is a temporary account?
A) Withdrawals
B) Accounts Receivable
C) Cash
D) Supplies

Name: Which of the following accounts is a temporary account? A) Withdrawals B) Accounts Receivable C) Cash D) Supplies
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Question

Quizplus · Accepted Answer

Withdrawals are considered temporary accounts because they track amounts taken out of the business by the owner(s) over the course of an accounting period and are closed to the owner's capital account at the end of each period.

Which of the Following Accounts Is a Temporary Account