The Income Summary account is a temporary: a. Liability account. b. Expense account. c. Drawing account. d.
Question:
The Income Summary account is a temporary:
a. Liability account.
b. Expense account.
c. Drawing account.
d. Owner’s equity account.
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The correct answer is d Owners equity account The Income Summary account is a temporary account used ...View the full answer
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Related Book For 
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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