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Author Question: The account to which revenue and expenses are closed is called a. Cash. b. Drawing. c. Income ... (Read 88 times)

burton19126

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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


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akudia

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

c

Answer to Question 2

True


burton19126

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

upturnedfurball

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Reply 3 on: Yesterday
Excellent

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