Multiple Choice
Match the terms that follow with the correct definitions.
-Account that is used to assist in closing temporary-equity accounts
A) Interim statements
B) Closing entries
C) Expenses
D) Real or permanent accounts
E) Drawing account
F) Income Summary
G) Post-closing trial balance
H) Accounting cycle
I) Expense and revenue
J) Temporary-equity accounts
Correct Answer:

Verified
Correct Answer:
Verified
Q19: Match the terms that follow with the
Q20: Match the terms that follow with the
Q21: Rank the steps of the accounting cycle
Q22: The adjusted balances for Tomas Co. are
Q23: If Income Summary has a credit balance
Q25: Which of the following accounts in the
Q26: The balance of the Drawing account is
Q27: Revenue and expenses would not appear on
Q28: The closing process causes the account balance
Q29: In the closing procedure, the expense account(s)