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Which the income summary account

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Reference no: EM132983689

Problem 1: The Income Summary account:

a) will receive entries only during the closing process.

b) will appear on a company's balance sheet.

c) will always have a credit balance.

d) None of these.

Problem 2: Which of the following accounts will not appear in a post-closing trial balance?

a) Cash.

b) Accumulated Depreciation.

c) Retained Earnings.

d) Utility Expense

e) None of these.

Reference no: EM132983689

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