Which of the following is NOT a temporary account?
A) Wages Expense.
B) Service Fees.
C) Rent Expense.
D) Capital.

Question

Quizplus · Accepted Answer

Wages Expense, Service Fees, and Rent Expense are all examples of temporary accounts because they are used to track expenses and revenues for a specific period of time, typically a fiscal year. Capital, on the other hand, is a permanent account that tracks the long-term value of the business, including investments, assets, and liabilities.

Which of the Following Is NOT a Temporary Account