Which of the Following Statements About Financial Statements and the Trial

question 190

Multiple Choice

Which of the following statements about financial statements and the trial balance is correct?

• A)Financial statements are prepared only after the adjusted trial balance has shown that debits equal credits.
• B)A post-closing trial balance should be prepared before temporary accounts are closed.
• C)An adjusted trial balance reflects the amount of Retained Earnings to be shown on the Balance Sheet.
• D)A post-closing trial balance lists the account balances of the accounts that are reported on the income statement.

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Definitions:

Approach Motivation

The driving force that prompts individuals toward positive stimuli or outcomes, as opposed to avoiding negative ones.

Intrinsic Goals

Objectives that are pursued for their own sake, driven by an inherent interest or enjoyment in the task, rather than external rewards.

Universal Needs

Fundamental requirements or desires common to all human beings, such as food, safety, and belonging.

Praised For Working Hard

The act of recognizing and appreciating someone's effort and diligence in their tasks or responsibilities.