Each of the following accounts is closed to Income Summary except
A) Expenses.
B) Dividends.
C) Revenues.
D) All of these answer choices are correct.

Name: Each of the following accounts is closed to Income Summary except A) Expenses. B) Dividends. C) Revenues. D) All of these answer choices are correct.
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Question

Quizplus · Accepted Answer

Expenses and Revenues are closed to Income Summary to determine the net income or loss for the period. Dividends are closed directly to Retained Earnings, not Income Summary.

Each of the Following Accounts Is Closed to Income Summary