As with all income statement accounts,the inventory process expense accounts begin the year with
A)a total equal to the amount in accounts payable
B)a total equal to the budgeted estimated expenses for the year
C)ending balance from prior year
D)a zero balance

Question

Quizplus · Accepted Answer

Inventory process expense accounts, like all income statement accounts, start each year with a zero balance because income statement accounts are reset at the end of each accounting period to begin the new period with a clean slate.

As with All Income Statement Accounts,the Inventory Process Expense Accounts