After the Closing Entries Have Been Posted

question 55

Multiple Choice

After the closing entries have been posted:

• A) the temporary accounts are zeroed out.
• B) the Capital account includes the current net profit or loss.
• C) the post-closing trial balance is prepared.
• D) All of these answers are correct.

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Definitions:

Communication Episode

A specific instance of communication between individuals, involving the exchange of information or messages.

Sender

The originator of a message in the communication process who intends to convey information or ideas to others.

Receiver

In communication, the individual or group that interprets or makes sense of a message sent to them.

Media Richness Continuum

A scale measuring communication media's ability to reproduce the information sent over them, ranging from rich (face-to-face interaction) to lean (text messages).