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Author Question: Which of the following accounts will not be closed to Income Summary at the end of the fiscal year? ... (Read 56 times)

nenivikky

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on: Jul 5, 2018
Which of the following accounts will not be closed to Income Summary at the end of the fiscal year?
 a. Utilities Expense
  b. Fees Earned
  c. Prepaid Insurance
  d. Insurance Expense

Question 2

The revenues budget identifies ________.
 
  A) expected cash flows for each product
  B) actual sales from last year for each product
  C) the expected level of sales for the company
  D) the variance of sales from actual for each product


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mtmmmmmk

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

c

Answer to Question 2

Answer: C


nenivikky

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

31809pancho

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Reply 3 on: Yesterday
Gracias!

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