Multiple choice

Which of the following is not a temporary account?

  1. Sales

  2. Income Summary

  3. Accounts Receivable

  4. Rent Expense

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Temporary accounts are those that are closed at the end of the period, such as sales, income summary, and rent expense. Accounts Receivable is a permanent asset account that remains on the balance sheet.