Which of the Following Accounts Will Appear on the Post-Closing

question 52

Multiple Choice

Which of the following accounts will appear on the post-closing trial balance?

• A)Capital
• B)Purchases
• C)Rent Expense
• D)Withdrawals

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Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers in two columns, debits and credits, to ensure they are equal.

Current Assets

Current assets are assets that a company expects to convert into cash, sell, or consume through the normal operations of the business within one year or one business cycle, whichever is longer.

Balance Sheet

A Balance Sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Assets

Resources owned by a company that have economic value and can provide future benefits.