What is the acronym for our closing entries?
Accounting Chapter 8
11th Grade
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Accounting Chapter 8
Quiz
•
Business
•
11th Grade
•
Medium
Matthew Robinson
Used 13+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
AARP
BTWITIAILWU
SEEID
VISA
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The FIRST account that we CLOSE is...
Advertising Expense
Drawing
Income Summary
Sales
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The sales account is closed into...
Capital
Expenses
Income Summary
Revenue
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The advertising expense account is closed into...
Capital
Expenses
Income Summary
Revenue
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The income summary account is closed into...
Capital
Expenses
Income Summary
Revenue
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The drawing account is closed into...
Capital
Expenses
Income Summary
Revenue
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The SECOND account that we CLOSE is...
Advertising Expense
Drawing
Income Summary
Sales
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