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:

Federal Court

A court system at the national level that has jurisdiction over legal disputes that involve federal laws, the constitution, or disputes between states or between the U.S. government and foreign governments.

Balance of Probabilities

A standard of proof in civil trials requiring that a case is more likely to be true than not, essentially over 50% likelihood.

Criminal Matter

A legal issue or case involving violations of public law and the commission of acts that are prohibited and punishable by the state.

Jury

A group of citizens selected according to law, who are sworn to inquire into matters of fact and deliver a verdict based on the evidence presented in a court trial.