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Author Question: The account to which revenue and expenses are closed is called a. Cash. b. Drawing. c. Income ... (Read 44 times)

burton19126

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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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Answer to Question 1

c

Answer to Question 2

True




burton19126

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Reply 2 on: Jul 5, 2018
Wow, this really help


Liamb2179

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  • Posts: 365
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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