A Post-Closing Trial Balance Is Prepared

question 172

Multiple Choice

A post-closing trial balance is prepared

• A) after closing entries have been journalized and posted.
• B) before closing entries have been journalized and posted.
• C) after closing entries have been journalized but before the entries are posted.
• D) before closing entries have been journalized but after the entries are posted.

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Definitions:

Internal and External

Refers to factors or influences within an organization (internal) and outside influences affecting an organization (external).

Unsatisfied Need

A consumer demand or desire that has not been fulfilled by existing products or services in the market.

Functional Needs

The specific requirements that consumers are looking to fulfill with a product or service.

Psychological Needs

Emotional or mental necessities that are essential for mental health and well-being, such as the need for love, esteem, or self-actualization.