Closing Revenue and Expense Accounts to the Income Summary Account

question 233

True/False

Closing revenue and expense accounts to the Income Summary account is an optional bookkeeping procedure.

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Definitions:

American Medical Association

A professional group that publishes research and guidelines related to medical practices and healthcare in the United States.

Disease

A condition that impairs normal body functioning, often caused by pathogens, genetic factors, or environmental exposures.

Sarcopenia

The loss of skeletal muscle mass and strength as a result of aging.

Muscles Deteriorate

The process through which muscle tissue breaks down or weakens, often due to aging, disease, or lack of use.