Which of the following accounts would NOT be considered a permanent account?
A) Accounts Receivable
B) Salaries Expense
C) Accounts Payable
D) Office Supplies

Question

Quizplus · Accepted Answer

Permanent accounts are those that are not closed at the end of the accounting period and have a continuous balance. These accounts include assets, liabilities, and equity accounts. Accounts Receivable (A), Accounts Payable (C), and Office Supplies (D) are all examples of permanent accounts. Salaries Expense (B) is a temporary account as it is closed at the end of the accounting period since it represents an expense for that period.

Which of the Following Accounts Would NOT Be Considered a Permanent