Which of the following accounts is NOT a temporary account?
A) Withdrawals
B) Fees Earned
C) Cash
D) Income Summary

Question

Quizplus · Accepted Answer

Temporary accounts include income and expense accounts (such as Fees Earned and Withdrawals), and the Income Summary account. Cash is a permanent account, as it tracks the current assets of a business and is not closed out at the end of a period like temporary accounts.

Which of the Following Accounts Is NOT a Temporary Account