Which of the Following Accounts Would Be Included in a Post-Closing

question 32

Multiple Choice

Which of the following accounts would be included in a post-closing trial balance?

• A)Accounts Receivable.
• B)S.Stills,Withdrawal.
• C)Consulting Fees Earned.
• D)Depreciation Expense-Equipment.
• E)Salaries Expense.

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Definitions:

Permanent Accounts

These are ledger accounts that carry their ending balances into the next accounting period, typically including asset, liability, and equity accounts.

Temporary

In accounting, temporary refers to accounts that are closed at the end of an accounting period, such as revenues, expenses, and dividends.

Forthcoming Year

The approaching or upcoming calendar year.

Long-term Debt

Debt obligations of a business that are due more than one year in the future, often used for large purchases or investments.