[Solved] Which of the Following Accounts Would Be Closed into Income

Question 30
Multiple Choice

Which of the following accounts would be closed into Income Summary in the procedure of closing accounts at the end of a fiscal period?

A) Rent Payable
B) Cash
C) Insurance Expense
D) Accumulated Depreciation

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.


Explore our library and get Accounting Homework Help with various study sets and a huge amount of quizzes and questions


Study sets





Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans