Which of the following accounts are permanent (real)accounts?
A)Fees earned.
B)Office supplies expense.
C)Interest revenue.
D)Accounts payable.
E)Salaries expense.

Question

Quizplus · Accepted Answer

Accounts payable is a permanent (real) account as it represents an obligation of the company to pay its creditors for goods or services received. The other accounts listed are temporary (nominal) accounts as they relate to revenue and expenses that occur during a specific time period and are closed out at the end of that period.

Which of the Following Accounts Are Permanent (Real)accounts