Question

1. which of the following accounts would be closed to the income summary account at the end of a period
A. commission income C. A and B are correct
B. Miscellanies expense D. Prepaid insurance

Answer 1

Answer:

$\huge\boxed{\pink{Aɴsᴡᴇʀ:-}}</p><p>$

Tʜᴇ ᴛʀᴇᴇs ᴏғ Mᴇᴅɪᴛᴇʀʀᴀɴᴇᴀɴ ғᴏʀᴇsᴛ ʜᴀs ᴅᴇᴠᴇʟᴏᴘᴇᴅ sᴏᴍᴇ sᴘᴇᴄɪᴀʟ ғᴇᴀᴛᴜʀᴇs ᴛᴏ sᴜʀᴠɪᴠᴇ ᴛʜᴇ sᴜᴍᴍᴇʀ ᴅʀᴏᴜɢʜᴛ, ʟɪᴋᴇ ᴛʜᴇʏ ᴀʀᴇ ᴡɪᴅᴇʟʏ sᴘᴀᴄᴇᴅ, ᴛʜᴇʏ ᴀʀᴇ ᴏғ sʜᴏʀᴛ ʜᴇɪɢʜᴛ, ᴛʜᴇʏ ʜᴀᴠᴇ sᴍᴀʟʟ ᴡᴀxʏ ʟᴇᴀᴠᴇs ᴀɴᴅ ᴛʜɪᴄᴋ ʙᴀʀᴋs. Tʜᴇʏ ᴀʟsᴏ ʜᴀᴠᴇ ᴅᴇᴇᴘ ʟᴏɴɢ ʀᴏᴏᴛs ᴛᴏ sᴇᴀʀᴄʜ ᴍᴏɪsᴛᴜʀᴇ ɪɴsɪᴅᴇ ᴛʜᴇ ɢʀᴏᴜɴᴅ.