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Author Question: The purpose and use of the income summary account is to summarize the difference between revenues ... (Read 87 times)

jlmhmf

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on: Jul 5, 2018
The purpose and use of the income summary account is to summarize the difference between revenues and expenses.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

In retail businesses, inventory is reported as a current asset.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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chevyboi1976

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

True

Answer to Question 2

True


jlmhmf

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

alexanderhamilton

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

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