Which of the Following Statements Is

question 73

Multiple Choice

Which of the following statements is ?

• A) Owner's capital must be closed each accounting period.
• B) A post-closing trial balance should include only permanent accounts.
• C) Information on the work sheet can be used in place of preparing financial statements.
• D) By using a work sheet to prepare adjusting entries you need not post these entries to the ledger accounts.
• E) Closing entries are only necessary if errors have been made.

---

Definitions:

Sender Encodes

The process by which a sender transforms a message into symbols or language understandable by the receiver in communication.

Two-Way Communication

A form of communication in which messages are sent and received between parties, allowing for feedback and interaction.

Time-Consuming

Activities or processes that require a significant amount of time to complete.

Communication Process

The series of steps and stages through which information is transmitted and received between communicators.