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View Full Version : Which of the following accounts will be closed to the income


peruviangurl84
Oct 26, 2010, 09:53 PM
Summary account at the end of the fiscal year? A. Cash B. Accounts Receivable C. Fees Revenue D. Drawing

pready
Oct 28, 2010, 06:49 AM
A and B are permanent accounts, therefore they are never closed. C is a temporary account and will be closed at the end of an accounting period.