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    Business
  3. Study Set
    Fundamental Accounting Principles
  4. Exam
    Exam 4: Completing the Accounting Cycle and Classifying Accounts
  5. Question
    The Income Summary Account Is Used to Close All Other
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The Income Summary Account Is Used to Close All Other

Question 76

Question 76

True/False

The Income Summary account is used to close all other temporary accounts at the end of an accounting period.

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