Which of the following accounts is closed at the end of the year but does not enter the calculation of profit?
A)Interest receivable
B)Dividends declared
C)Depreciation expense
D)Salaries payable

Question

Quizplus · Accepted Answer

Dividends declared is an example of a nominal account which is closed at the end of the year and does not affect the calculation of profit. Interest receivable, depreciation expense, and salaries payable are examples of real accounts that are not closed at the end of the year and do affect the calculation of profit.

Which of the Following Accounts Is Closed at the End