Probably the Last Account to Be Listed on a Post-Closing

question 10

Multiple Choice

Probably the last account to be listed on a post-closing trial balance would be

• A)Income Summary.
• B)Wages Payable.
• C)Owner's Capital.
• D)Wages Expense.

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Definitions:

Non-Value Added Activities

Processes or actions that consume resources but do not directly contribute to the final product or customer value, often targeted for elimination in efficiency efforts.

Schematic

A diagram that represents the elements of a system using abstract, graphic symbols rather than realistic pictures.

Movement Of People

The collective migration or travel of individuals or groups from one location to another, relevant in various contexts including economics, urban planning, and sociology.

Labour Standards

Established benchmarks for the amount of time required for a worker to complete specific tasks.