Question: 7 The temporary account used only for the closing process that contains a credit for fotd revenues ( and gains ) and a debit for

7
The temporary account used only for the closing process that contains a credit for fotd revenues (and gains) and a debit for total expenses (and lossecf) is the:
8 er2245
Mitiple Choice
Contra eccount
Real eccount.
income Summary account.
Closing account.
Balance colvme account
7 The temporary account used only for the closing

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!