Which of the Following Accounts Showing a Balance on the Post-Closing

question 76

Multiple Choice

Which of the following accounts showing a balance on the post-closing trial balance indicate an error?

• A)Land.
• B)Dividends.
• C)Accounts Payable.
• D)Unearned Revenue.
• E)Prepaid Insurance.

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Definitions:

Contract Frustration

A legal doctrine which releases both parties from their contractual obligations due to unexpected events that render the contract impossible to fulfill.

Prize Horse

A highly valued or award-winning horse often recognized in competitive events or breeding.

Local Theatre

A venue within a community that hosts live performances, including plays, musicals, and other stage productions.

Frustrated Contract

A contract that, due to unforeseeable circumstances beyond the control of the parties, cannot be fulfilled, leading to its termination without fault.