Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.
My answer is false.
Expense’s normal balance is debit. So, to close the account it has to be credited. The entry for closing expenses is debit Income and expense summary and credit to Expenses.
F A L S E ................
False>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
income summary accounts is new term atleast for me it could be control accounts. expenses has to be adusted in expense only