Which of the Following Accounts Is Not Closed to Income

question 190

Multiple Choice

Which of the following accounts is not closed to Income Summary?

• A)Cost of Goods Sold
• B)Inventory
• C)Sales Revenue
• D)Sales Discounts

---

Definitions:

Transcendental Meditation

A technique for detaching oneself from anxiety and promoting harmony and self-realization by meditation, repetition of a mantra, and other yogic practices.

Meditation Technique

A practice that involves focused attention or contemplation to achieve a mentally clear and emotionally calm and stable state.

Mindfulness Meditation

A practice of concentrated focus upon a sound, object, visualization, the breath, movement, or attention itself in order to increase awareness of the present moment, reduce stress, promote relaxation, and enhance personal and spiritual growth.

Traditional Chinese Medicine

A holistic approach to health care originating from China, incorporating methods like herbal medicine, acupuncture, and qi gong to balance the body's energy.