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:

Verified
Correct Answer:
Verified
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