Which of the Following Accounts Could Have a Non-Zero Balance

question 10

Multiple Choice

Which of the following accounts could have a non-zero balance on a post-closing trial balance?

• A)Salaries and Wages Expense
• B)Premium on Bonds Payable
• C)Income Tax Expense
• D)Interest Expense

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Definitions:

Biological Psychologist

A scientist who studies the biological underpinnings of behavior, thoughts, and emotions, often focusing on the brain's role in psychological processes.

Social Psychologist

A scientist or researcher who studies how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Overconfidence

The state of being excessively confident, to the point of having an unrealistic perception of one's abilities or outcomes.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, also known as the "knew-it-all-along" effect.