It is closed to safeguard the balances from being mixed with the subsequent accounting period balances. Revenue, expense, which of the following account groups are temporary accounts? and pr... اقرأ المزيد

What’s a little less widely known are the temporary accounts. Because you don’t close permanent accounts at the end of a period, permanent account balances transfer over to the following per... اقرأ المزيد

Temporary vs. permanent accounts can be a lot to digest. To help you further understand each type of account, review the recap of temporary and permanent accounts below. Now that you know mo... اقرأ المزيد