Question

The owner's capital account is closed to the Income Summary account at the end of the...

The owner's capital account is

closed to the Income Summary account at the end of the accounting period.

a temporary account.

closed to the owner's drawings account at the end of the accounting period.

a permanent account.
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Answer #1
Answer: a permanent account

Explanation:

The owners' capital account is a permanent account. Capital account is not a temporary account. Temporary accounts is account that is accumulated temporarily until it is transferred to owner's capital. Permanent account is a accumulated account that is accumulated from one fiscal year to the next fiscal year. The owners' capital account is not closed to the Income Summary account at the end of the accounting period. Owner's drawings is closed to the owner's capital account at the end of the accounting period.

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