Multiple Choice
To what account is the balance in the Income summary account closed?
A) The Capital account
B) The Drawings account
C) The Profit account
D) The Revenue account
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q75: The following contains information from the
Q76: Below is a list of various
Q77: Under which of the following categories would
Q78: Which of the following entries will be
Q80: Below is a list of various
Q82: Where can closing entries be found?<br>A)In a
Q83: The following contains information from the
Q84: Which of the following is true of
Q136: The current ratio shows the profitability of
Q160: The worksheet is NOT a journal,a ledger,or