False
A permanent account is the drawing account. Temporary accounts are sometimes known as nominal accounts. Temporary accounts must have a balance of zero at the beginning of each fiscal period.
Temporary accounts include, but are not limited to, revenue, expense, and gain and loss accounts. You might also have a temporary withdrawal or drawing account if your business is a sole proprietorship or partnership.
The drawing account is then utilized once more the following year to keep track of disbursements. This indicates that the drawing account is not a permanent account but rather a temporary account.
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