All of the Following Statements About the Post-Closing Trial Balance

question 141

Multiple Choice

All of the following statements about the post-closing trial balance are correct except it

• A)shows that the accounting equation is in balance.
• B)provides evidence that the journalizing and posting of closing entries have been properly completed.
• C)contains only permanent accounts.
• D)proves that all transactions have been recorded.

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Definitions:

Money Transfers

The process of moving funds from one account or individual to another, through various methods such as electronic transfers, wire transfers, or checks.

Multifactor Productivity

Indicates the ratio of the goods and services produced (outputs) to many or all resources (inputs).

Capital Acquisition

The process of acquiring funds or assets for the purpose of investment or enterprise growth.