Homework Answers
Permanent account (s) is/are which are not closed at the end of the accounting year. Permanent accounts may refers to the assets, liabilities and capital accounts.
All income accounts, Dividend accounts are closed at the end of the year, hence those accounts are temporary accounts not permanent accounts.
Hence the 100% correct answer (Option) for the question is "C" Retained earnings account is refers to capital accounts, hence it is permanent account.
Of course all Balance sheet accounts are also permanent accounts but In the give question high chance of correctness is of Retained earnings option, hence correct option is "C"
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