Question: A control account: Multiple Choice : 1 9 : 1 0 is a temporary account. summarizes revenue and expense accounts. is supported by a set

A control account:
Multiple Choice
:19:10
is a temporary account.
summarizes revenue and expense accounts.
is supported by a set of subsidiary ledger accounts.
is closed at the end of the period to cost of goods sold.
None of the choices is correct
A control account: Multiple Choice : 1 9 : 1 0 is

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!

Q:

2 A control account: Multiple Choice O is supported by a set of subsidiary ledger accounts. is a temporary account. summarizes revenue and expense accounts. is closed at the end of the period to cost...

Q:

A control account: ? ' Multiple Choice is closed at the end of the period to cost of goods sold. summarizes revenue and expense accounts. is a temporary account. is supported by a set of subsidiary...

Q:

TB MC Qu. 03-195 (Algo) On April 1, Garcia Publishing Company... On April 1, Garcia Publishing Company received $2,088 from Ollsco, Incorporated for 36 month subscriptions to several different...

Q:

COMPREHENSIVE PORTION (1 POINT EACH) For each item below, indicate with an X whether a debit (DR) or credit (CR) applies to the specified transaction. DR Transaction CR Increase to Accounts Payable...

Q:

I would like to have the answers for question 1 thru 64 please ACCA 310 FALL 2015 ASSIGNMENT QUIZ CHAPTERS 7 TO 10 Multiple Choice: 1. The financial budget includes a. only the capital budget and the...

Q:

I would like have the answers for questions 65 - 130 ACCA 310 FALL 2015 ASSIGNMENT QUIZ CHAPTERS 7 TO 10 Multiple Choice: 1. The financial budget includes a. only the capital budget and the cash...

Q:

get an anwer and solution of problem in both paper 1 full disclousure second revenue recognition IV. Test Questions and Solutions Chapter 1 Multiple Choice 1. What basic financial statements can be...

Q:

Background and Facts Croudace Bay Trophies is a business which sells trophies, medals, gifts and momentos for awards, farewells and other special occasions. Croudace Bay Trophies also make some cash...

Q:

Rule 4.3A Appendix 4E Preliminary Final Report Name of entity FARM PRIDE FOODS LTD ABN or equivalent company reference: 1. 42 080 590 030 Reporting period Report for the financial year ended 30 June...

Q:

$ 126,000 84.000 54,900 31,000 Costs incurred: Purchases of direct materials (net) on credit Direct manufacturing labor cost Indirect labor Depreciation factory equipment Depreciation, office...

Q:

What is the purpose of proving the totals in the combination journal?

Q:

Find the ratio, reduced to lowest terms, of the volume of a sphere with a radius of 3 inches to the volume of a sphere with a radius of 9 inches. CARE The ratio is. (Type an integer or a simplified...

Q:

Which of the following helps an employer determine an employees FITW?a . IRS Publication 1 5 - Tb . Form 9 4 1 instructionsc. Form W - 2 instructionsd. Form 9 4 0 instructions

Q:

Delta Airlines offers three fare classes (call them H, M and L) on its flight from Salt Lake City (SLC) to Chicago (ORD). The ticket prices are $600, $400 and $200 respectively. Flight capacity is...