The Post-Closing Trial Balance Lists the Accounts from the General

question 138

Multiple Choice

The post-closing trial balance lists the accounts from the general ledger in:

• A) alphabetical order.
• B) category order, beginning with assets and ending with expenses.
• C) numerical order.
• D) category order, beginning with assets and ending with owner's equity.

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Definitions:

Minimum Cash Balance

The least amount of cash a business decides to keep on hand to meet immediate needs, often set as a part of cash management policies.

Cash Excess

Cash excess refers to the situation where a company or individual has more liquid cash available than is necessary for current operations or investments.

Master Budget

A comprehensive financial planning document that includes all of the smaller, individual budgets within an organization, projecting all major financial activities.

Static Budget

A static budget is a fixed budget that does not change or adjust in response to changes in business activity levels, such as sales volume or production capacity, during the budget period.