Real accounts are:
A) Another name for temporary accounts.
B) Another name for permanent accounts.
C) Closed at the end of the accounting period.
D) Income statement accounts.
E) Not shown on the balance sheet.

Question

Quizplus · Accepted Answer

Real accounts are also known as permanent accounts, which means they are not closed at the end of each accounting period like temporary accounts. Real accounts include assets, liabilities, and owner's equity accounts, and they are reported on the balance sheet.

Real Accounts Are