Which of these accounts is never closed?A. Prepaid RentB. Income SummaryC. Rent RevenueD. Rent Expense
Which of these accounts is never closed?A. Prepaid RentB. Income SummaryC. Rent RevenueD. Rent Expense
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 1Q: Explain what is meant by the term real accounts (also known as permanent accounts).
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Question
Which of these accounts is never closed?
A. Prepaid Rent
B. Income Summary
C. Rent Revenue
D. Rent Expense
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