This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The account to which revenue and expenses are closed is called a. Cash. b. Drawing. c. Income ... (Read 65 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
on: Jul 5, 2018
The account to which revenue and expenses are closed is called
 a. Cash.
   b. Drawing.
   c. Income Summary.
   d. Net Income.

Question 2

The form of the balance sheet in which assets, liabilities, and owner's equity are presented in a downward sequence is called the report form.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akudia

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

True


burton19126

  • Member
  • Posts: 532
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Earth’s history is divided into nested sets of time--eons, eras, periods, and epochs--and is called Earth’s history is divided into nested sets of time--eons, eras, periods, and epochs--and is called
Reconstruction Drawing of The Flavian Amphitheater (Colosseum) Reconstruction Drawing of The Flavian Amphitheater (Colosseum)
Income per Capita versus Inequality Income per Capita versus Inequality
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Coconut tree kids drawing Coconut tree kids drawing
New year kid drawing New year kid drawing
Video: Premenstrual Syndrome

For a complete list of videos, visit our video library