Question
Which of the following steps are involved in closing the temporary accounts of a manufacturing business? a.The balances of operating expense accounts are credited to
Which of the following steps are involved in closing the temporary accounts of a manufacturing business?
a.The balances of operating expense accounts are credited to Income Summary.
b.The balance of Retained Earnings is credited to Income Summary.
c.The balance of Factory Overhead is credited to Income Summary.
d.The balance of Cost of Goods Sold is credited to Income Summary.
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Understanding And Auditing IT Systems Volume 1
Authors: Young-Woon Min
2nd Edition
978-1257124084
