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

question 102

Multiple Choice

The post-closing trial balance differs from the adjusted trial balance in that it

• A) does not take into account closing entries
• B) does not take into account adjusting entries
• C) does not include balance sheet accounts
• D) does not include income statement accounts

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Definitions:

Delegator's Duty

In the context of delegated tasks, this refers to the responsibility of the individual or party who has transferred a duty to another to ensure the duty is performed appropriately.

Delegator

A party in a contract who transfers his or her duties to perform to a third party who is not a part of the original contract (a delegatee).

Donee Beneficiary

A third party who benefits from a contract between two other parties, especially in cases involving the transfer of a gift or a donation.

Promisor

In a third-party beneficiary contract, the party to the contract who made the promise that benefits the third party.