Depreciation Expense is closed to Income Summary, but Accumulated Depreciation is not closed.

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Income Summary is a permanent account.

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The Withdrawals account is closed to Income Summary.

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Nominal accounts are called temporary accounts because their balances are not carried forward to $24)$ the next accounting period.

Income Summary is closed to Capital.

Sales discounts are not taken on returns.

The general ledger and the accounts receivable subsidiary ledger are the same book.

Accounts in the accounts receivable subsidiary ledger are listed in order of how much is owed.

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The controlling account is found in the subsidiary ledger and it summarizes or controls the general

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An example of a subsidiary ledger is the purchases account.

Terms of $\frac{2}{10},\frac{n}{30}$ means that a customer is allowed a $10\%$ discount in $30$ days.

The accounts payable subsidiary ledger should equal the control account in the general ledger.

The seller's sales involce is the buyer's purchase invoice,

A receiving report is used to notify the company of the quantity and condition of the goods received.

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The accounts payable subsidiary ledger is organized in chronological order.

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