The Income Summary account balance should always increase after ...

[codyclark]

The Income Summary account balance should always increase after the closing entries are posted at the end of the accounting period.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Gross profit is the difference between sales and all operating expenses.
 
  Indicate whether the statement is true or false

[paavo]

Answer to Question 1

False

Answer to Question 2

F

[codyclark]

Thanks for the timely response, appreciate it

[Zebsrer]

Excellent