A Post-Closing Trial Balance Shows

question 57

Multiple Choice

A post-closing trial balance shows:

• A) All ledger accounts with a balance,none of which can be temporary accounts.
• B) All ledger accounts with a balance,none of which can be real accounts.
• C) All ledger accounts with a balance,which include some temporary and some real accounts.
• D) Only revenue and expense accounts.
• E) Only asset accounts.

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Definitions:

Receivables Turnover

A financial metric that measures how efficiently a company uses its assets by converting accounts receivable into cash over a period.

Debt-Equity Ratio

A financial ratio that represents the comparative deployment of shareholders' equity and debt in asset financing.

Total Asset Turnover

A financial metric indicating how efficiently a company uses its assets to generate sales revenue.

Profit Margin

A financial ratio that shows the percentage of revenue that surpasses the cost of goods sold, indicating the financial health and profitability of a business.