A post-closing trial balance will show
A) only permanent account balances.
B) only temporary account balances.
C) zero balances for all accounts.
D) the amount of profit (or loss) for the period.
Correct Answer:
Verified
Q43: An error has occurred in the closing
Q44: In order to close a revenue account,
Q45: Closing entries
A) are prepared before the financial
Q46: The owner's capital account is
A) a permanent
Q49: Closing entries are made
A) in order to
Q50: In preparing closing entries
A) every revenue account
Q51: A post-closing trial balance should be prepared
A)
Q52: When is a post-closing trial balance prepared?
A)
Q53: After closing entries are posted, the balance
Q63: In order to close the owner's drawings
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