The income summary account is also called
A) the imprest account
B) the clearing account
C) the adjustments account
D) the zero-out account

Name: The income summary account is also called A) the imprest account B) the clearing account C) the adjustments account D) the zero-out account
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The income summary account is also called the clearing account as it is used to transfer the balances of revenue and expense accounts at the end of the accounting period, ultimately clearing them to zero.

The Income Summary Account Is Also Called