The account used to close the temporary accounts (revenues and expenses) before the finish of the accounting cycle is

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Ariella Pruitt

Business

6 June, 03:19

The account used to close the temporary accounts (revenues and expenses) before the finish of the accounting cycle is

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Priscilla Allen · Answer 1

The answer is the Income Summary account. It is a provisional account into which all revenue and expense records are moved at the end of an accounting period. The net amount moved into the income summary account equivalents the net profit or loss that the company sustained during the accounting period.