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-   -   Which of the following accounts will be closed to the income (https://www.askmehelpdesk.com/showthread.php?t=520621)

  • Oct 26, 2010, 09:53 PM
    peruviangurl84
    Which of the following accounts will be closed to the income
    Summary account at the end of the fiscal year? A. Cash B. Accounts Receivable C. Fees Revenue D. Drawing
  • Oct 28, 2010, 06:49 AM
    pready

    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.

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