What Is the First Account That Should Be Listed in the Post-Closing

question 70

Multiple Choice

What is the first account that should be listed in the post-closing trial balance?

• A) Net Income
• B) Owner, Capital
• C) Cash
• D) Fees Earned

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Definitions:

High Validity

Refers to the extent to which a test, measurement, or experiment accurately measures or reflects what it claims to measure.

Rational Thinking

The process of reasoning logically and systematically about decisions or beliefs based on facts and evidence rather than emotions or intuition.

Practical Intelligence

Intelligence that relates to the ability to solve everyday problems through adaptive or creative reasoning.

Social Intelligence

The ability to understand and manage interpersonal relationships and to navigate social situations effectively.