Which of the following accounts would NOT be considered a permanent account?
A) Accounts Receivable
B) Depreciation Expense
C) Accounts Payable
D) Prepaid Rent Expense

Question

Quizplus · Accepted Answer

Depreciation Expense is an income statement account and is considered a temporary account, not a permanent account. Temporary accounts are closed at the end of the accounting period, while permanent accounts carry their balances into future accounting periods.

Which of the Following Accounts Would NOT Be Considered a Permanent