Which of the Following Do NOT Show Up on a Post-Closing

question 150

Multiple Choice

Which of the following do NOT show up on a post-closing trial balance?

• A) Assets and liabilities
• B) Capital and assets
• C) Capital and liabilities
• D) Revenues and expenses

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Definitions:

C.P.A.

Stands for Certified Public Accountant, a designation given to someone who has passed the Uniform CPA Examination and met additional state education and experience requirements.

Tax Liability

The total amount of tax owed by an individual, corporation, or other entity to a taxing authority.

Indemnification

The process by which one party agrees to compensate another for any loss or damage that has occurred or may occur.