An account that is not closed at the end of the period is called a(n):
A)expense account.
B)temporary account.
C)permanent account.
D)revenue entry.

Question

Quizplus · Accepted Answer

A permanent account is not closed at the end of the accounting period, whereas temporary accounts are closed to transfer their balances to permanent accounts. Expense and revenue accounts are examples of temporary accounts. Therefore, the best choice is C, which is a permanent account.

An Account That Is Not Closed at the End of the Period