Which of the Following Statements Regarding a Post-Closing Trial Balance

question 113

Multiple Choice

Which of the following statements regarding a post-closing trial balance is false?

• A) Post-closing trial balances only contain permanent accounts.
• B) Balances in a post-closing trial balance cannot be used to calculate current income.
• C) Post-closing trial balances only contain temporary accounts.
• D) A post-closing trial balance verifies that the total of the debit balances equals the total of the credit balances of all permanent accounts in the general ledger.

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Definitions:

Organizational Culture

The shared values, beliefs, and practices that influence how people behave in an organization.

Computer Programming

The process of designing, writing, testing, debugging, and maintaining the source code of computer programs.

Consulting Company

A firm that provides expert advice to businesses in a specific sector, helping them solve issues and optimize performance.

Organizational Culture

is the collection of values, beliefs, and behaviors that shapes the social and psychological environment of a business organization.