It Is Obvious That an Error Occurred in the Preparation

question 292

Multiple Choice

It is obvious that an error occurred in the preparation and/or posting of closing entries if:

• A)all revenue and expense accounts have zero balances.
• B)the Retained earnings account is debited for the amount of the net loss for the period.
• C)the income summary account is debited for the amount of net income for the period.
• D)all balance sheet accounts have zero balances.
• E)only permanent accounts appear on the post-closing trial balance.

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Definitions:

Radial Pulses

The pulse felt at the wrist on the side of the thumb, which is an indicator of the arterial blood supply to the hand and reflects the heart's rate and rhythm.

Quick-Release Buckle

A fastening device designed for easy opening or release with minimal effort, commonly used in safety equipment, clothing, and bags.

Brain Injury

Damage to the brain caused by an external physical force, potentially leading to temporary or permanent impairment.

Tongue Depressor

A tool used in medical examinations to press down the tongue and allow for the visual inspection of the mouth and throat.