Critical Thinking Questions Case 1-1 Perry Has Recently Expanded His

question 80

Multiple Choice

Critical Thinking Questions Case 1-1 Perry has recently expanded his business from a sole proprietorship to include two new employees he has hired. As a result of this expansion, he is considering carefully how to save the workbooks that he and his employees will create, and what storage media would be the best for the workbooks. Perry decides that he will need to have access to particular workbooks on a variety of computers in the office. As a result, which of the following storage media is a good choice for him?

• A)USB flash drive
• B)hard drive
• C)Internet
• D)Web site

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Definitions:

Post-Closing Trial Balance

A listing of all company accounts that remain after closing entries are made, used to check the accuracy of closing procedures and the balance of permanent accounts.

Adjusted Trial Balance

The Adjusted Trial Balance is a list of all accounts and their balances after adjustments have been made for entries like accruals and deferrals, ensuring the accuracy of financial statements.

Post-Closing

Post-closing refers to the period after the closing entries are made in the accounting cycle, aimed at preparing the accounts for the next period by resetting revenue and expense accounts to zero.

Unadjusted

Pertaining to figures or balances not yet modified for errors, changes, or specific adjustments required for accurate reporting.