An account whose period-ending balance is transferred or closed to Income Summary is a(an)
A) closing account.
B) income statement account.
C) income summary account.
D) permanent account.
E) temporary account.
Correct Answer:
Verified
Q45: On May 1, 2010, Pepper Corporation paid
Q46: On October 1, 2011, Railways Corp. signed
Q47: An internet service provider requires customers to
Q48: On September 1, 2010, Huntley Co. paid
Q49: An account whose period-ending balance is carried
Q51: Which of the following is not a
Q52: Closing entries
A) bring the balance in all
Q53: On December 31, earned but unpaid wages
Q54: During 2010, Zambezi Rowing Co. generated $500,000
Q55: During 2010, Elaine Corp. (a calendar-year company)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents