Which of the Following Accounts Will NOT Appear on the Post-Closing

question 49

Multiple Choice

Which of the following accounts will NOT appear on the post-closing trial balance?

• A) Capital
• B) Cash
• C) Accounts Payable
• D) Withdrawals

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Definitions:

Drawee

A party upon whom a cheque or draft is drawn, typically a bank, responsible for paying the amount specified to the payee.

Negotiable Instruments

Financial documents promising payment to the holder, such as checks, bills of exchange, and promissory notes.

Referral Selling

A type of sales practice in which the purchaser supplies a seller with a list of friends or acquaintances and receives a benefit when sales are made to those people.

Purchaser Supplies

Materials or goods procured by the buyer directly for use in a service or production process.