Respectively, Inventory, Accounts Receivable, and Accounts Payable are:
A)temporary, permanent, and temporary accounts.
B)temporary, temporary, and permanent accounts.
C)all temporary accounts.
D)all permanent accounts.

Question

Quizplus · Accepted Answer

Inventory, Accounts Receivable, and Accounts Payable are all considered permanent accounts because they carry their balances over into the next accounting period and are not closed at the end of the accounting year.

Respectively, Inventory, Accounts Receivable, and Accounts Payable Are