Which of the Following Statements Is Incorrect

Multiple Choice

Which of the following statements is incorrect?

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