The income summary account is closed to the owner's capital account.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Which of the following would most likely be accounted for in an Internal Service Fund?
A. A government's water and sewer department if it provides water and sewer services to government departments as well as to residents and businesses in the community.
B. A government's central printing shop that provides a very minimal amount of services to a few outside customers.
C. The Payroll and Benefits Department of the government.
D. A consolidated supplies facility where most of the customers are other governments.
Creede, Colorado, circa 1890, a rough silver mining town that grew from 660 people in 1889 to over 1
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