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  3. Study Set
    Accounting Study Set 3
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    Exam 5: Completing the Accounting Cycle Closing and Reversing Entries
  5. Question
    Closing Which of These Accounts Results in a Credit to the Profit
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Closing Which of These Accounts Results in a Credit to the Profit

Question 5

Question 5

Multiple Choice

Closing which of these accounts results in a credit to the profit or loss summary account?


A) Sales
B) Insurance expense
C) Depreciation
D) Drawings

Correct Answer:

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