Which of the Following Is Done Last at the End

question 95

Multiple Choice

Which of the following is done last at the end of the year?

• A)Prepare adjusting journal entries.
• B)Prepare an adjusted trial balance.
• C)Prepare closing journal entries.
• D)Prepare a post-closing trial balance.

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in a market.

Own Name

The legal identification used by an individual or entity for conducting transactions or signing contracts.

Paid-In Capital

The amount of money a company has received from shareholders in exchange for stock.

Organizational Costs

Expenses related to the formation of a corporation or business entity, including legal fees, registration fees, and promotional expenses.