The Post-Closing Trial Balance Differs from the Adjusted Trial Balance

question 126

Multiple Choice

The post-closing trial balance differs from the adjusted trial balance in that it does not

• A) take into account closing entries
• B) take into account adjusting entries
• C) include balance sheet accounts
• D) include income statement accounts

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Definitions:

Step-variable

Costs that remain fixed over small ranges of production or activity levels but can change with larger shifts in activity.

Mixed

A category that includes a combination of various elements or types.

Variable

An element, feature, or factor that is liable to vary or change.

Fixed

Refers to costs or expenses that do not change in proportion to the level of activity or production volume, such as rent or salaries.