A Post-Closing Trial Balance Shows

question 22

Multiple Choice

A post-closing trial balance shows

• A)All ledger accounts with a balance, which include some temporary and some real accounts.
• B)Only asset accounts.
• C)Only revenue and expense accounts.
• D)All ledger accounts with a balance, none of which can be real accounts.
• E)All ledger accounts with a balance, none of which can be temporary accounts.

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Definitions:

Law Of Agency

A legal doctrine concerning the relationship between the agent and the principal, where the agent is authorized to act on behalf of the principal.

Quasi-Contract

A legal concept where the courts impose contractual obligations on parties not in an actual contract to prevent unjust enrichment.

Law Of Equity

A system of law that supplements the statutory and common laws, aiming to achieve fairness and justice in cases where strict application of the law might result in an inequitable outcome.

Real Estate Agent

A certified individual who acts on behalf of sellers or buyers in property sales.