Which of the following categories of accounts are temporary accounts that are closed at the end of the year?
A)assets,liabilities,and dividends
B)revenues,expenses,and dividends
C)assets,liabilities,and stockholders' equity
D)revenues,expenses,and stockholders' equity

Question

Quizplus · Accepted Answer

Temporary accounts are those that are closed at the end of the year, and include revenues, expenses, and dividends. Assets, liabilities, and stockholders' equity are all permanent accounts, and are not closed out at the end of the year. Therefore, the correct answer is B) revenues, expenses, and dividends.

Which of the Following Categories of Accounts Are Temporary Accounts