A Trial Balance Prepared After the Adjusting and Closing Entries

question 16

Multiple Choice

A trial balance prepared after the adjusting and closing entries have been posted, and which is the final step in the accounting cycle, is a(n) :

• A)Post-closing trial balance.
• B)Adjusted trial balance.
• C)Book of final entry.
• D)Unadjusted trial balance.
• E)Work sheet.

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Definitions:

Price Discrimination

The strategy where a business sells the same product at different prices to different groups of consumers, based on willingness to pay.

Illegal

Actions or activities that are forbidden by law or statute.

Price Discriminate

The practice of charging different prices to different consumers for the same product or service, based on what the seller thinks the market can bear, rather than standard costs.

Monopolist

An entity with exclusive control over the supply of a particular good or service, setting prices without competition.