The Income Summary Account

question 192

Multiple Choice

The income summary account

• A) is a permanent account.
• B) appears on the balance sheet.
• C) appears on the income statement.
• D) is a temporary account.

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Definitions:

Nearsighted

A visual condition, also known as myopia, where close objects are seen clearly, but distant objects appear blurred.

Elongated

Extended or lengthened in shape or duration.

Cataract

A medical condition in which the lens of the eye becomes progressively opaque, resulting in blurred vision.

Hue

A basic property of color defined by the wavelength of light, denoting the color itself, such as red, blue, or green.