Which of the Following Are NOT Included in a Post-Closing

question 120

Multiple Choice

Which of the following are NOT included in a post-closing trial balance?

• A)Assets and liabilities
• B)Owner,Capital and assets
• C)Common Stock and liabilities
• D)Revenues and expenses

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Definitions:

Malfunctioned Toaster

This refers to a toaster device that is not operating correctly due to faults or damages.

Implied Warranty

A legal assumption that the goods or services sold meet certain standards of quality and functionality, even if not explicitly stated.

Merchantability

Implies that a product sold by a merchant is fit for the ordinary purposes for which such goods are used and meets the consumer's expectations.

Express Warranty

A clearly stated assurance or guarantee given by a seller about the condition or quality of a product or service.