Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) Owner's capital must be closed each accounting period.
B) A post-closing trial balance should include only permanent accounts.
C) The work sheet can be substituted for 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.