Which of the following accounts is not closed during the closing process?
A)Owner's Capital
B)Commissions Earned
C)Income Summary.
D)Withdrawals

Name: Which of the following accounts is not closed during the closing process? A)Owner's Capital B)Commissions Earned C)Income Summary. D)Withdrawals
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Question

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Owner's Capital is not closed during the closing process because it is a permanent account that reflects the owner's equity in the business and carries its balance forward into the next accounting period.

Which of the Following Accounts Is Not Closed During the Closing