In the expanded version of the accounting equation income and expenses are subgroupings of:

a. assets.

b. equity

. c. liabilities.

d. bank.

4. Because the balance at the end of one accounting period becomes the opening balance at the start of the next period, balance sheet accounts are known as:

a. temporary accounts.

b. permanent accounts.

c. long-term accounts.

d. multi-period accounts.

Just answers no need expalntion