After closing the expense accounts, the total of the expense accounts will appear on the debit side of the Income Summary account.

Name: After closing the expense accounts, the total of the expense accounts will appear on the debit side of the Income Summary account.
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Question

Quizplus · Accepted Answer

This statement is true according to the closing process in accounting. The expense accounts are closed by transferring their balances to the Income Summary account on the debit side.

After Closing the Expense Accounts, the Total of the Expense