Permanent accounts would not include:
A) Interest expense.
B) Salaries and wages payable.
C) Prepaid rent.
D) Deferred revenues.

Question

Quizplus · Accepted Answer

Permanent accounts are those that carry their balances over into the next accounting period. Interest expense is a temporary account because it relates to a specific period and is closed to the income summary at the end of that period. Salaries and wages payable, prepaid rent, and deferred revenues are all examples of permanent accounts because their balances are carried forward into future accounting periods.

Permanent Accounts Would Not Include