After All Closing Entries Are Made and Posted, the Balance

question 96

Multiple Choice

After all closing entries are made and posted, the balance in the owners' capital account in the ledger will be equal to

• A) Profit or loss for the year
• B) The balance of owners' capital on the post-closing trial balance
• C) Zero
• D) The beginning balance in owners' capital in the statement of changes in equity
• E) The balance of owners' capital on the pre-closing trial balance

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Definitions:

Phenotypic Traits

Observable characteristics of an organism, which result from the interaction of its genotype with the environment.

MicroRNAs

Small non-coding RNA molecules that play a role in regulating gene expression by binding to and silencing target mRNAs.

Transcription

Transcription is the process that takes place when RNA polymerase reads a coding sequence of DNA and produces a complementary strand of RNA, called messenger RNA (mRNA).

Translation

Translation is the process that takes place when a strand of mRNA is decoded by a ribosome to produce a protein.