Which of the following is not a temporary account?
A) Depreciation Expense-Vehicles
B) Service Revenue
C) Accumulated Depreciation-Vehicles
D) Interest Income

Question

Quizplus · Accepted Answer

Accumulated depreciation is a contra-asset account, which is a permanent account used to track the total amount of depreciation taken on an asset or group of assets over time. On the other hand, Depreciation Expense (A), Service Revenue (B), and Interest Income (D) are all temporary accounts that are closed at the end of an accounting period.

Which of the Following Is Not a Temporary Account