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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Related Book For
Accounting A Business Perspective
ISBN: 9780075615859
7th Edition
Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher
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