The Post-Closing Trial Balance Should Match the Balances in The

question 26

Multiple Choice

The post-closing trial balance should match the balances in the:

• A) general journal.
• B) income statement.
• C) general ledger.
• D) statement of retained earnings.
• E) unadjusted trial balance.

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Definitions:

Act Utilitarians

Philosophers or ethicists who follow the principle of act utilitarianism, focusing on the consequences of individual actions and choosing those that maximize happiness or reduce suffering for the greatest number.

Principle of Utility

A foundational principle in ethics that suggests actions should be judged as morally right or wrong based on their consequences, specifically aiming to maximize happiness and minimize suffering.

Rightness

The quality of being morally correct, justifiable, or acceptable according to ethical principles.

Principle of Effort

The notion that the outcome of one's endeavors is directly related to the amount of effort put in.