Which of the Following Statements Is True

question 87

Multiple Choice

Which of the following statements is true?

• A)Adjusting entries are recorded after the closing entries have been recorded.
• B)The balance in the retained earnings account in the trial balance will equal the retained earnings balance on the balance sheet after closing entries have been posted to the general ledger.
• C)Debits are equal to credits only after closing entries have been made.
• D)Equal totals in a trial balance guarantees that no errors were made in the recording process.

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Definitions:

Freestanding Retail Outlet

A retail store that is not attached to any other building and is typically located on its own plot of land.

Major Road

A primary or significant roadway used for travel or transport, often connecting major cities, regions, or areas of interest.

Store Image

The perception or impression that consumers have of a retail establishment, influenced by factors like layout, service quality, and product selection.

Consumer Confidence

A measure of how optimistic or pessimistic consumers are about the economy's prospects and their own financial situation, which can influence their spending and saving behaviors.