Temporary accounts include all of the following except:
A) Prepaid rent.
B) Consulting revenue.
C) Rent expense.
D) Income Summary.
E) Withdrawals.

Question

Quizplus · Accepted Answer

Prepaid rent is a permanent account, meaning it is not closed at the end of the accounting period like temporary accounts are. The other options are all temporary accounts that are closed out at the end of the period to determine net income or loss.

Temporary Accounts Include All of the Following Except