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Author Question: The income summary account is closed to the owner's capital account. a. True b. False Indicate ... (Read 116 times)

TVarnum

  • Hero Member
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  • Posts: 548
on: Jul 5, 2018
The income summary account is closed to the owner's capital account.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Which of the following would most likely be accounted for in an Internal Service Fund?
 
  A. A government's water and sewer department if it provides water and sewer services to government departments as well as to residents and businesses in the community.
  B. A government's central printing shop that provides a very minimal amount of services to a few outside customers.
  C. The Payroll and Benefits Department of the government.
  D. A consolidated supplies facility where most of the customers are other governments.


katara

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  • Posts: 305
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

B


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