The Account to Which Revenue and Expenses Are Closed Is

question 61

Multiple Choice

The account to which revenue and expenses are closed is called

• A) Cash.
• B) Drawing.
• C) Income Summary.
• D) Net Income.

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Definitions:

Legal Information

Data or knowledge related to the laws, regulations, legal decisions, and legal theory.

Sophisticated Client

A person who understands and appreciates the importance of the law and the role of a lawyer in making good decisions.

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Matters concerning law, legal actions, or the administration of justice within a given context.

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