Which of the Following Statements Is True

question 234

Multiple Choice

Which of the following statements is true?

• A)Retained earnings must be closed each accounting period.
• B)A post-closing trial balance should include only permanent accounts.
• C)Information on the work sheet can be used in place of preparing financial statements.
• D)By using a work sheet to prepare adjusting entries,you need not post these entries to the ledger accounts
• E)Closing entries are only necessary if errors have been made.

---

Definitions:

Nonthreatening Environment

A safe and comfortable setting that does not cause fear or stress, fostering open communication and collaboration.

Feedback

Information provided regarding aspects of one's performance or understanding, intended to reinforce positives or promote improvement.

Role Expectations

The anticipated behaviors and actions associated with a particular position or status within a group or society.

Proactive

Taking initiative by acting in advance of future situations or problems, rather than just reacting to them as they occur.