Which of the following accounts are permanent?
A)Retained earnings.
B)All income statement accounts.
C)Dividends.
D)All balance sheet accounts including dividends.

Question

Quizplus · Accepted Answer

Retained earnings are a permanent account that reflects the accumulated profits and losses of a company since its inception. It carries over from year to year and is not closed at the end of a fiscal year.

Answer: D
 All balance sheet accounts, including dividends, are considered permanent accounts. They represent the financial position of a company at a point in time and carry over from year to year, unlike temporary accounts that are closed at the end of each period.

Which of the Following Accounts Are Permanent