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 109 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
Thanks for the timely response, appreciate it

lkanara2

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Renal calculi (stones) can form in several areas within the urinary tract. When they form in the kid Renal calculi (stones) can form in several areas within the urinary tract. When they form in the kid
Workshop of Maso Finiguerra, Youth Drawing. Workshop of Maso Finiguerra, Youth Drawing.
When the engine is cold and before the oxygen sensor is hot enough to achieve closed-loop, the ... When the engine is cold and before the oxygen sensor is hot enough to achieve closed-loop, the ...
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
The Spinal Cord Is Protected by the Bony Structures of the Vertebrae. This Drawing of a Cervical Ver The Spinal Cord Is Protected by the Bony Structures of the Vertebrae. This Drawing of a Cervical Ver
Pencil drawing grade 1 Pencil drawing grade 1
Video: Bone processes - resorption and deposition, remodeling and response to stress in adult bones

For a complete list of videos, visit our video library