Which one of the following accounts will not appear in a balance sheet?

a.) temporary account
b.) permanent account
c.) asset account
d.) owners equity account


Answered 7 months ago
Answered 7 months ago
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Accounts that are only temporary will not be presented in the balance sheet.

The nominal accounts are accounts from the income statement (expenses, income, loss, profit)

At the end of the accounting period, a nominal account's balance is zeroed out, and the account is closed. Consequently, a nominal account always starts a new accounting year with a balance of zero.

Because the balance is not carried over to the following year's financial statements, a nominal account is also called to as a temporary account for the same reason.

Therefore, the correct choice is A.

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