A Trial Balance Prepared After the Closing Entries Have Been

question 57

Multiple Choice

A trial balance prepared after the closing entries have been posted would exclude which one of the following accounts?

• A) Inventory.
• B) Accumulated depreciation.
• C) Service revenue.
• D) Trade receivables.

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Definitions:

Outcomes

The results or effects of actions, decisions, or policies, with a broader application beyond purely economic contexts.

Risk Averse

A preference for certainty over uncertainty with regards to outcomes, particularly in the context of financial decisions.

Certain Income

An assured or guaranteed stream of income, usually referring to investments with fixed returns.

Probability

A measure of how likely it is for an event to occur, expressed as a number between 0 and 1, with 1 indicating certainty.