Question
The income summary account, after adjusting entries are posted, reflects the A. Beginning inventory amount B. Ending inventory amount C. Beginning and ending inventory amount
The income summary account, after adjusting entries are posted, reflects the
A. Beginning inventory amount
B. Ending inventory amount
C. Beginning and ending inventory amount
D. Cash income from business transactions
Note: I search this question online and it's says the answers are C and D, and I am not sure which one of them is actually the correct answer.
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Modern Auditing And Assurance Services
Authors: Philomena Leung, Paul Coram, Barry J. Cooper, Peter Richardson
5th Edition
1742168450, 978-1742168456
