The second step in the closing process is to close the _____________ account(s) into the ___________ account(s).

a.expense, net income

b.income summary, expense

c.expense, income summary

d.revenue, income summary

The post-closing trial balance is best prepared from the

a.general ledger and the financial statements.

b.general ledger.

c.financial statements.

d.general journal and the general ledger.

e.income statement.

If expenses are greater than revenue, the Income Summary account will be closed by a debit to

a.Capital and a credit to Income Summary.

b.Cash and a credit to Income Summary.

c.Income Summary and a credit to Cash.

d.Income Summary and a credit to Capital.

e.Income Summary and a credit to Drawing.