Balance sheet accounts
A) represent amounts accumulated during a specific period of time
B) are called real accounts
C) have zero balances after the closing entries have been posted
D) are not affected by adjustments

Question

Quizplus · Accepted Answer

Balance sheet accounts are referred to as real accounts because they carry their balances over into the next accounting period, unlike temporary or nominal accounts which are closed at the end of each period.

Balance Sheet Accounts