It Is Obvious That an Error Occurred in the Preparation

question 13

Multiple Choice

It is obvious that an error occurred in the preparation and/or posting of closing entries if:

• A) all revenue and expense accounts have zero balances.
• B) the owner's capital account is debited for the amount of the net loss for the period.
• C) the income summary account is debited for the amount of net income for the period.
• D) all balance sheet accounts have zero balances.
• E) only permanent accounts appear on the post-closing trial balance.

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Definitions:

Flowering Plants

Flowering plants, also known as angiosperms, are plants that produce flowers and seeds enclosed within a fruit.

Integuments

Layers of protective tissue covering the body of an organism, such as skin, husks, or rinds.

Seed Coat

The protective outer layer of a seed that encases and protects the embryo.

Modified Stem

A stem of a plant that has undergone structural changes to perform functions other than support and conduction of nutrients, such as storage or photosynthesis.