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Author Question: The purpose and use of the income summary account is to summarize the difference between revenues ... (Read 89 times)

jlmhmf

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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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Answer to Question 1

True

Answer to Question 2

True




jlmhmf

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review


laurnthompson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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