After closing entries have been journalized and posted, all temporary accounts in the ledger should have zero balances.

Name: After closing entries have been journalized and posted, all temporary accounts in the ledger should have zero balances.
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Quizplus · Accepted Answer

This is because all temporary accounts, such as revenue, expenses, and dividends, are closed to the retained earnings account, which is a permanent account. As a result, the temporary accounts should have zero balances at the end of the accounting period.

After Closing Entries Have Been Journalized and Posted, All Temporary