Which of the following accounts is not closed to Income Summary?
A) Cost of Goods Sold
B) Inventory
C) Sales Revenue
D) Sales Discounts
Correct Answer:
Verified
Q97: A credit granted to a customer for
Q98: The respective normal account balances of Sales
Q99: Which one of the following is shown
Q100: Financial information is presented below: 
Q101: Net purchases plus freight-in determines
A)cost of goods
Q103: The income statement under IFRS is
A)required to
Q104: Sam Wainwright is a new accountant with
Q105: Sales Returns and Allowances and Sales Discounts
Q106: Gross profit represents the merchandising profit of
Q107: Net income is gross profit less
A)financing expenses.
B)operating
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