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Which of the statements below is correct regarding the difference between a temporary account and a permanent account?
A. A permanent account will not appear on a post-closing trial balance.
B. Permanent account balances will be transferred to the Retained Earnings account.
C. Temporary account balances will be carried to the next accounting period.
D. A temporary account will not appear on a post-closing trial balance.

Respuesta :

Answer:A temporary account will not appear on a post-closing trial balance.

Explanation:

Parrain

The difference between temporary and permanent accounts is that D. A temporary account will not appear on a post-closing trial balance.

What makes an account temporary?

A temporary account is only used to record entries that take place during the course of the year and so is closed at the end of the year.

This means that it will not appear in the post-closing trial balance unlike permanent accounts that will.

Find out more on temporary accounts at https://brainly.com/question/26447990.

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