Which of the following accounts is not closed at the end of an accounting cycle? Multiple...

Which of the following accounts is not closed at the end of an accounting cycle?

Multiple Choice

A. Revenues
B. Retained earnings
C. Dividends
D. Expenses

Expert Solution

Answer: B) Retained Earnings

Accounts are two Types depends on the permanency nature. those are

1) Temporary Accounts,

2) Permanent accounts.

All the Temporary Accounts are Closed at the end of the accounting Cycle. ( Expenses, Revenues )

Permanent Accounts are the Accounts are not closed with the accounting Cycle, ( all the Assets , Liabilities, Retained earnings, and Owers' Equity )

ekkarill92 answered 2 years ago

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