Which of the following statements is incorrect? b c Od Permanent accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence. Permanent accounts include assets. The Income Summary account is a temporary account. Permanent accounts are another name for temporary accounts. Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and withdrawals accounts for the upcoming year and to update the owner's capital account for the events of the year just finished are 0000 a Closing entries Adjusting entries b C Final entries d Work sheet entries