Select the Correct Statement from the Following

question 48

Multiple Choice

Select the correct statement from the following:

• A)If the trial balance debits equal the trial balance credits, adjusting entries are not necessary.
• B)Adjusting entries are made after the adjusted trial balance report is printed.
• C)Accounts payable information in detail can be found in both the general ledger and the accounts payable subsidiary ledger.
• D)Financial statements must be prepared before the closing entries are journalized.

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Definitions:

Vietnam War

A prolonged conflict from the 1950s to the 1970s between communist forces in North Vietnam and the government of South Vietnam, heavily involving the United States and other allies.

Students for a Democratic Society

An activist student organization in the United States, prominent in the 1960s for its role in the civil rights, anti-Vietnam War, and student rights movements.

NAACP

Stands for the National Association for the Advancement of Colored People, a civil rights organization in the United States formed in 1909 to fight for the rights of African Americans.