Accounts that stay open during the course of business are called:
A) temporary accounts.
B) permanent accounts.
C) asset accounts.
D) liability accounts.

Question

Quizplus · Accepted Answer

Permanent accounts are those that remain open throughout the accounting periods, carrying their ending balances from one period to the next. This includes real accounts like asset, liability, and equity accounts, unlike temporary accounts which are closed at the end of the accounting period.

Accounts That Stay Open During the Course of Business Are