Which of the Following Statements Is Incorrect

Multiple Choice

Which of the following statements is incorrect?

A) Temporary accounts carry a zero balance at the beginning of each accounting period.
B) The closing process applies only to temporary accounts.
C) Real accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence.
D) Permanent account is another name for nominal account.
E) The Income Summary account is a temporary account.