Which one of the following accounts would not be closed at the end of the accounting year?
A) Rent expense.
B) Dividends payable.
C) Sales revenue.
D) Salaries expense.

Question

Quizplus · Accepted Answer

Dividends payable is a liability account, not an expense or revenue account, and therefore it is not closed at the end of the accounting year. Expense and revenue accounts (like Rent expense, Sales revenue, and Salaries expense) are closed to prepare the company for the new fiscal year.

Which One of the Following Accounts Would Not Be Closed