A Post-Closing Trial Balance Includes

question 91

Multiple Choice

A post-closing trial balance includes:

• A)All ledger accounts with balances,none of which can be temporary accounts.
• B)All ledger accounts with balances,none of which can be permanent accounts.
• C)All ledger accounts with balances,which include some temporary and some permanent accounts.
• D)Only revenue and expense accounts.
• E)Only asset accounts.

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Definitions:

Long-term Investment

Investments made to be held for several years or more, typically in bonds, stocks, or real estate.

Financing Activities

Transactions involving the flow of cash between a company and its owners or creditors, typically relating to equity and long-term debt.

Treasury Stock

Shares that were issued and subsequently bought back by the issuing company, reducing the amount of outstanding stock on the open market.

Cash Collected

The total amount of money received by a company from its various activities, such as sales, services, or borrowings.