After Adjusting Entries Are Prepared and Posted,but Before Closing Entries

question 230

Multiple Choice

After adjusting entries are prepared and posted,but before closing entries are prepared and posted,the balance in Retained Earnings is equal to:

• A)zero.
• B)the difference between total assets and total liabilities.
• C)the amount that is to be reported in the current year's balance sheet.
• D)the amount that was reported on the previous year's balance sheet.

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Definitions:

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