After Closing Entries Are Posted, the Balance in the Retained

question 34

Multiple Choice

After closing entries are posted, the balance in the retained earnings account in the ledger will be equal to

• A)the beginning retained earnings reported on the retained earnings statement.
• B)the amount of the retained earnings reported on the balance sheet.
• C)zero.
• D)the net income for the period.

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Definitions:

Private Act

An action or behavior conducted in personal or secluded settings, not meant for public observation or intervention.

Suicide

The act of intentionally causing one's own death, studied across disciplines to understand the underlying social, psychological, and environmental factors.

Sacred

Connected with God or dedicated to a religious purpose, deemed holy, or perceived as having a spiritual significance that merits veneration or respect.

Profane

That which is secular, not sacred, ordinary, or not regarded as religious or spiritual in nature.