After the Adjusting Entries Are Journalized and Posted to the Accounts

question 28

Multiple Choice

After the adjusting entries are journalized and posted to the accounts in the general ledger the balance of each account should agree with the balance shown on the

• A) adjusted trial balance.
• B) post-closing trial balance.
• C) the general journal.
• D) adjustments columns of the worksheet.

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Definitions:

Alternative X

A hypothetical or specific alternative option in a decision-making process or analysis.

Fixed Costs

Unchanging costs associated with operation, irrespective of production or sales levels, such as expenses for premises, staff remuneration, and insurance protection.

Fixed Expenses

Costs that remain constant regardless of the level of production or sales activities, such as rent or salaries.

Net Operating Income

is the profit a company generates from its operations, excluding taxes and interest, focusing on the core business activities.