Solved

The Account to Which Revenue and Expenses Are Closed Is

Question 61

Multiple Choice

The account to which revenue and expenses are closed is called

A) Cash.
B) Drawing.
C) Income Summary.
D) Net Income.

Related Questions

Q56: Adjusting entries are recorded and posted after

Q57: To close the drawing account with a

Q58: _ accounts do not accumulate information across

Q59: Long-term liabilities are liabilities that are due

Q60: _ accounts accumulate information across accounting periods

Q62: From the partial work sheet,prepare an income

Q63: A statement of owner's equity is a

Q64: Number in their proper order the following

Q65: The steps involved in handling all of

Q66: Property,plant,and equipment are assets that are expected