Which of the following statements ifi false regarding the closing process? a. The Dividends account is closed

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Which of the following statements ifi false regarding the closing process?

a. The Dividends account is closed to Income Summary.

b. The closing of expense accounts results in a debit to Income Summary.

c. The closing of revenues results in a credit to Income Summary.

d. The Income Summary account is closed to the Retained Earnings account. pg44

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Accounting A Business Perspective

ISBN: 9780075615859

7th Edition

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

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