If no transactions were posted to a particular asset,liability,or shareholders' equity account during a period then:
A)the amounts from the previous balance sheet are repeated unchanged on the current balance sheet.
B)the account is left off of the balance sheet.
C)the account is posted as zero on the current balance sheet for that account.
D)the words "no change" are entered in the current balance sheet.

Question

Quizplus · Accepted Answer

If no transactions were posted to an account during a period, the amounts from the previous balance sheet are repeated unchanged on the current balance sheet. This ensures that the balance sheet remains accurate and reflects the financial position of the entity.

If No Transactions Were Posted to a Particular Asset,liability,or Shareholders