Which is NOT an example of a temporary account?
A)Electricity and gas expense
B)Service revenue
C)Wages expense
D)Accumulated depreciation

Question

Quizplus · Accepted Answer

Accumulated depreciation is a permanent account, while the other three options are temporary accounts. Temporary accounts are used to record transactions for a specific accounting period and are closed at the end of that period, while permanent accounts carry forward balances from one accounting period to the next.

Which Is NOT an Example of a Temporary Account