In Closing Off the Accounts the Balance in the Cost

question 7

Multiple Choice

In closing off the accounts the balance in the Cost of Sales account will be:

• A)debited to the profit and loss account.
• B)debited to the capital account.
• C)transferred to the balance sheet.
• D)credited to the drawings account.

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Address

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A program that reads and executes code directly, translating high-level instructions into machine code one statement at a time.