A Post-Closing Trial Balance Shows

question 119

Multiple Choice

A post-closing trial balance shows

• A) All ledger accounts with a balance, none of which can be temporary accounts
• B) All ledger accounts with a balance, none of which can be permanent accounts
• C) All ledger accounts with a balance, which include some temporary and some permanent accounts
• D) Only revenue and expense accounts
• E) Only asset accounts

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Definitions:

Highly Specialized Economy

An economy focusing on the development and production of specific goods or services, utilizing advanced technology or unique skills for efficiency.

Self-Sufficiency

The ability to fulfill all of one's needs without external assistance.

Merchandise Trade Balance

The difference between a country's exports and imports of tangible goods.

Services Trade Balance

The difference between exports and imports of services of a country, reflecting whether a country is a net provider or consumer of services internationally.