Which of the Following Accounts Could Have a Non-Zero Balance

question 59

Multiple Choice

Which of the following accounts could have a non-zero balance on a post-closing trial balance?

• A)Dividends Declared
• B)Premium on Bonds Payable
• C)Income Tax Expense
• D)Interest Expense

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Definitions:

Union

The term can refer to the United States during the Civil War, representing the northern states that opposed the Confederacy, or to a general concept of unity among people or states.

Seceded

The act of formally withdrawing from an organization, alliance, or nation to become independent or join another entity.

Abolitionist Movement

A movement before and during the American Civil War which sought to end the practice of slavery in the United States.