Closing which of these accounts results in a credit to the Profit and Loss Summary account?
A) Sales
B) Depreciation
C) Rent Expense
D) Drawings
Correct Answer:
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Q9: The major purpose of a post-closing trial
Q10: Before calculating the profit for the period,the
Q11: Which of these accounts is closed to
Q12: The balance in the Profit and Loss
Q14: Accounting entries made to reduce the temporary
Q15: On a worksheet if the opening balance
Q16: Income and expense accounts can be referred
Q18: Which of these is not a permanent
Q33: Which of these is not recorded on
Q35: Which statement relating to closing entries is
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