The Purchases account is:Multiple Choicea permanent account.a temporary account.a subsidiary account.a liability account.

Answer

The Purchases account is classified as:

1. A Permanent Account: This type of account carries its balance over from one accounting period to the next.
2. A Temporary Account: This type of account is closed at the end of each accounting period and its balance is transferred to a permanent account.
3. A Subsidiary Account: This is an additional account that provides details for a specific aspect of a primary account.
4. A Liability Account: This account represents obligations owed to others, but the Purchases account does not fall into this category.

Final Answer

The Purchases account is a temporary account.