menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Accounting Principles Study Set 3
  4. Exam
    Exam 4: Completing the Accounting Cycle
  5. Question
    Each of the Following Accounts Is Closed to Income Summary
Solved

Each of the Following Accounts Is Closed to Income Summary

Question 12

Question 12

Multiple Choice

Each of the following accounts is closed to Income Summary except


A) Expenses.
B) Owner's Drawing.
C) Revenues.
D) All of these are closed to Income Summary.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q8: Identify which of the following are temporary

Q9: These are selected account balances on December

Q10: Indicate the worksheet column (income statement Dr.,

Q11: These financial statement items are for Knight

Q15: At March 31, account balances after adjustments

Q16: An error has occurred in the closing

Q19: The adjusted trial balance columns of a

Q71: The use of reversing entries<br>A) is a

Q204: To close net income to owner's capital

Q225: When using a worksheet adjusting entries are

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines