Which of the following accounts would be closed at the end of the accounting period?
A)Accounts Receivable
B)Unearned Consulting Fees
C)Fees Earned
D)Retained Earnings
E)Land

Question

Quizplus · Accepted Answer

Fees Earned is a revenue account, which is a temporary account that needs to be closed at the end of the accounting period to transfer its balance to Retained Earnings.

Which of the Following Accounts Would Be Closed at the End