menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Accounting Study Set 2
  4. Exam
    Exam 5: Completing the Accounting Cycle Closing and Reversing Entries
  5. Question
    The Profit or Loss Summary Account Is What Type of Account
Solved

The Profit or Loss Summary Account Is What Type of Account

Question 17

Question 17

Multiple Choice

The Profit or Loss Summary account is what type of account?


A) short-term account
B) asset account
C) temporary account
D) current account

Correct Answer:

verifed

Verified

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

Related Questions

Q12: Which of the following categories of adjusting

Q13: Which statement relating to the profit or

Q14: Which of the following is not a

Q15: Telephone expenses for the year are $13

Q16: The correct closing entry for sales income

Q18: The drawings account has a normal balance

Q19: Which of the following statements is correct

Q20: Which of the following statements about closing

Q21: The retained earnings balance of The Jackman

Q22: Closing entries are recorded:<br>A) in the ledger

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