Assuming No Errors Have Been Made,when a Company Prepares Its

question 24

Multiple Choice

Assuming no errors have been made,when a company prepares its adjusted trial balance:

• A)assets will equal liabilities plus retained earnings.
• B)shareholders' equity will be adjusted to include the current period's net income.
• C)the debit column and the credit column will be equal.
• D)income statement accounts will have been closed.