Final answer:
The fund balance is not closed at the end of the fiscal year and is carried forward, unlike temporary accounts such as revenues and expenditures.
Step-by-step explanation:
The account that would not be closed at the end of each fiscal year is c. Fund balance. Closing entries are made to reset the balances of temporary accounts such as revenues, expenses, and dividends to zero for the upcoming accounting period.
The fund balance, however, is a permanent account that represents the net assets held in governmental funds. It is not closed at the end of the fiscal year but is instead carried forward to reflect the accumulated resources that have not been spent.
The account that would not be closed at the end of each fiscal year is the Fund balance account.
While the other accounts listed - Estimated revenues, Interfund transfers out, and Expenditures - are temporary accounts that are closed at the end of the fiscal year, the Fund balance account represents the remaining amount after calculating revenues, transfers, and expenditures.
It carries over to the next fiscal year and the balance is updated accordingly.