Multiple Choice
Identify the accounts below that are ALL classified as temporary accounts.
A) Wages Expense, Accumulated Depreciation, Fees Income
B) Owner's Drawing, Owner's Capital, Income Summary
C) Owner's Drawing, Depreciation Expense, Income Summary
D) Accounts Receivable, Depreciation Expense, Fees Income
Correct Answer:

Verified
Correct Answer:
Verified
Q9: Use the following account balances from the
Q10: A post-closing trial balance could include all
Q11: Which of the following statements is not
Q12: Which of the following accounts is not
Q13: The entry to close the Depreciation Expense
Q15: The revenue account Fees Income is closed
Q16: After all the closing entries are posted,
Q17: If a business has a net loss
Q18: Which of the following statements is not
Q19: On December 31 the Income Summary account