Temporary accounts would not include:
A) Salaries payable.
B) Depreciation expense.
C) Supplies expense.
D) Cost of goods sold.

Question

Quizplus · Accepted Answer

Temporary accounts are those that are closed at the end of each accounting period, which includes all revenue and expense accounts, dividends, and income summary accounts. Salaries payable is a liability account, not a temporary account, making it the correct choice. The other options (B, C, D) are examples of temporary accounts as they relate to expenses and costs that are reset each accounting period.

Temporary Accounts Would Not Include